BSP to complete GCash probe next month

The Bangko Sentral ng Pilipinas (BSP) expects to complete its investigation over unauthorized deductions on digital payments provider GCash by midDecember.

- Keisha Ta-asan

BSP Deputy Governor Mamerto Tangonan said that the central bank aims to uncover the root cause of the reported deductions and determine whether additional regulations or enforcement measures are necessary.

"The investigation is still ongoing. We want to be thorough in this because we want to assure the public that (digital payments) are safe," he said. "Payments are built on trust. If you don't trust it, no one will use it and we don't get the benefits." The central bank expects to release the results of the investigation within 15 working days, Tangonan said.