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.
Bu hikaye The Philippine Star dergisinin July 07, 2024 sayısından alınmıştır.
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Bu hikaye The Philippine Star dergisinin July 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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