The Bangko Sentral ng Pilipinas (BSP) and Philippine Payments Management, Inc. (PPMI) launched three new digital payment initiatives on Wednesday as part of activities marking the BSP’s 33rd anniversary. The new offerings are Direct Debit PH, interoperable service InstaPay Cash-In, and InstaPay for Business, all designed to make financial transactions more accessible, convenient, and inclusive for all Filipinos and local enterprises.
BSP governor Eli M. Remolona, Jr. noted that better connectivity and lower transaction costs encourage more people to use digital systems, which strengthens the entire network for everyone. Deputy governor Mamerto E. Tangonan added that the launch upholds the central bank’s commitment to building a payment system that leaves no one behind, anchored on the National Retail Payment System Framework that serves as the master plan for a safer, faster, and more connected financial ecosystem.
Direct Debit PH lets users authorize service providers to automatically collect dues directly from their accounts on agreed schedules. InstaPay Cash-In allows one user to send a fund request to another, who can then release money straight from their bank or e-wallet account. Meanwhile, InstaPay for Business raises the maximum transaction limit for registered businesses tenfold, from P50,000 to P500,000.
Authorities also clarified updates to existing QR codes first introduced back in 2024: the original system is now split into QR Ph for person-to-merchant payments where merchants cover service charges, and InstaPay QR for person-to-person transfers where fees may apply depending on the account used. The launch event was attended by key players and partners from the country’s payments industry.
