The Bangko Sentral ng Pilipinas (BSP) and Philippine Payments Management Inc. (PPMI) rolled out three new digital payment services aimed at expanding fund transfer limits and streamlining transactions for businesses and consumers.
The initiatives include InstaPay for Business, which raises the maximum transfer limit for registered firms to ₱500,000 from ₱50,000. The BSP said the tenfold increase is intended to support larger online transactions.
The second service, InstaPay Cash-In, allows users to send a request for funds to another account holder, who can then transfer money directly from their bank or e-wallet.
The third, Direct Debit PH, enables customers to authorize billers to automatically collect payments from their accounts on due dates.
The launch was held at the BSP Head Office as part of the central bank’s 33rd anniversary activities. BSP Governor Eli Remolona Jr. said the initiatives promote financial inclusion by lowering fees and expanding interoperability.
Deputy Governor Mamerto Tangonan said the programs build on the National Retail Payment System Framework, which serves as the blueprint for a safer and more reliable payment ecosystem.
The BSP and PPMI also clarified that “QR Ph” now refers to person-to-merchant payments, where merchants shoulder transaction fees, while “InstaPay QR” applies to person-to-person transfers, which may carry fees depending on the account used.
Industry stakeholders and partners attended the event, underscoring the BSP’s push to strengthen the country’s digital payments infrastructure.
