The BSP, the Bank for International Settlements (BIS) and four other Asian central banks will now work on the next stage of connecting their instant payment systems (IPS) seamlessly.
“Phase four will see the Central Bank of Malaysia, the BSP, the Monetary Authority of Singapore, the Bank of Thailand and domestic IPS operators – who worked together in phase three – joined by the Reserve Bank of India, expanding the potential user base to India’s Unified Payments Interface (UPI), the world’s largest IPS,” it said.
Bank of Indonesia will continue to be a special observer to the project. The Indonesian central bank took part in phase three and will continue in this capacity to follow the project in the next stage of its development.
This story is from the July 07, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 07, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
NAIA curbside fees possibly in place before holidays - NNIC
The private operator of the Ninoy Aquino International Airport (NAIA) may start imposing fines on overstaying vehicles in terminal curbsides before the holidays to decongest the gateway.
Dito, Smart among best telcos
Dito Telecommunity Corp. has garnered multiple recognitions at the 2024 edition of the Opensignal 5G Global Awards, landing on the same spot as some of the biggest operators in the world.
'Phl economy still fastest in Asean in 2024, 2025'
The Philippines is expected to remain among the fastest growing economies in Southeast Asia this year and in 2025, with growth to be driven mainly by government spending and services exports, according to the Association of Southeast Asian Nations Plus 3 Macroeconomic Research Office (AMRO).
Vista Land raises P3 B from preferred shares offer
Vista Land & Lifescapes Inc., the listed property developer of the Villar Group, has raised P3 billion in its return to the equities market.
AC Health building new facility to boost efficiency
Ayala Healthcare Holdings Inc.(AC Health) is expanding its pharma importation businesses with the construction of a new warehouse at the Cavite Technopark.
Coron, Siargao airports up next for PPP
The government has started evaluating the offers made by the Udenna and Gokongwei groups to operate the airports in Coron and Siargao, respectively, signaling that more gateways will be transferred to private hands under the Marcos administration.
10 firms gearing up for IPOs next year
Some 10 companies are seen undertaking their initial public offerings (IPO) next year on the back of better market conditions, BDO Capital & Investment Corp.president Eduardo Francisco said.
'Power crisis looms without balanced energy mix”
The country needs a balanced approach toward energy transition, as overdependence on a single power source could lead to a dire energy crisis, according to Aboitiz Power Corp.
Slower-than-expected Sept inflation buoys stocks
The stock market soared to a new high in more than two years as the country's inflation dropped to over four-year low in September.
Inflation slows to 1.9% in Sept
Inflation eased further in September to its lowest level in more than four years, driven by the slower increase in food prices, according to the Philippine Statistics Authority (PSA).
