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The time to waive service fees on electronic fund transfers is long overdue, Senate President Chiz Escudero said in backing the move of Bangko Sentral ng Pilipinas (BSP) to remove such charges for personal transactions and payments to micro, small and medium enterprises (MSMEs). “I could only hope that the thresholds will be higher and […]
The Bangko Sentral ng Pilipinas (BSP) recently launched its Paleng-QR (Quick Response) Ph Plus program in Bacolod City. The project makes use of digital payments in public markets and transportation hubs following the approval by the Bacolod City Council of the Palengke-QR Ph ordinance in support of Mayor Albee Benitez’s program of promoting a “smart […]
To make sure we will not forget our debt of gratitude to them, it is proper that the Bangko Sentral ng Pilipinas feature Philippine heroes in our peso bills, Senator Robinhood Padilla said. Padilla said it is important to continuously educate Filipinos on our heroes by using money, which all Filipinos – regardless of age […]
Senator Koko Pimentel III has asked the Bangko Sentral ng Pilipinas to stop the issuance and the production of the P1,000 polymer banknotes amid mounting complaints about its practical use as a legal tender. At the same time, Pimentel has filed a resolution urging the Senate to conduct a legislative inquiry on BSP’s inclination to […]
Senator Lito Lapid has filed a bill which mandates government offices to adopt digital transaction systems to allow them to pay and receive digital currency. The measure states that all government agencies, including but not limited to national government agencies (NGAs), foreign-based government agencies, all government corporations, local government units (LGUs), State Universities and Colleges […]
The Senate unanimously approved on third and final reading a bill amending the Philippine Deposit Insurance Corp. (PDIC) charter, making it an attached agency of the Bangko Sentral ng Pilipinas (BSP). Voting 23-0-0, the Senate passed during Senate Bill No. (SBN) 2365 or An Act Amending Sections 1, 3, 4, 5, 6, 7, 8, 9, […]
Senator Win Gatchalian pressed for the passage of the bill that will give financial regulators the power to enhance the conduct of surveillance against cybercriminals given the massive shift in digital financial transactions. “Hackers and fraudsters are becoming very sophisticated and if we don’t stay ahead of the curve and no one is mandating to […]
Senator Win Gatchalian urged the Bangko Sentral ng Pilipinas (BSP) and the banking community to suspend the collection of fees on online money transfers while COVID-19 cases peak. “With a number of banks shortening their operating hours, some banks even temporarily closing as some of their employees have also contracted the disease or manifested symptoms […]
Philippine currency should not set aside its depiction of national heroes in recognition of their bravery and invaluable contribution to the country’s rich history and culture, re-electionist Senator Dick Gordon said. Gordon made the statement in response to the Bangko Sentral ng Pilipinas (BSP)’s announcement in phasing out World War II heroes in its experimental […]
Senator Win Gatchalian is urging the Bangko Sentral ng Pilipinas (BSP) to reconsider its plan to replace the country’s World War II heroes in the P1,000 banknote with the Philippine Eagle, a move that he says would erase our heroes from the consciousness of future generations and deny their rightful place in history. “We should […]