The transport systems aim to link up all systems with the real-time payment system.
Bank of China-Manila announced an interconnection that permits customers to transfer peso-denominated funds in-real time between accounts of participating BSP-Supervised Financial Institutions. This also permits the bank’s retail customers to wire funds from one individual to another via account number, QR code or multi proxy service. Backed by rising demand for digital fund transfers over traditional paper transactions, Bank of China opts to realign its processes to effectively engage and support the growing digital customer base.
