THE Bangko Sentral ng Pilipinas (BSP) once again reminds BSP-Supervised Financial Institutions (BSFIs) offering PESONet and InstaPay services to ensure the availability of customer services during holidays and non-working days. This reminder is consistent with BSP Memorandum No. M-2023-011 issued on 30 March 2023 (M-2023-011.pdf (bsp.gov.ph)).
The BSP reiterates this requirement in anticipation of the public’s continued use of interoperable digital payments over the holidays and long weekends. This is in line with the BSP’s broader efforts to promote financial consumer welfare.
For detailed expectations, BSFIs may refer to the Guidelines on Handling of Consumer Concerns on PESONet and lnstaPay (https://bit.ly/M-2022-029).
PESONet is a batch electronic funds transfer service that is a viable alternative for checks and recurring payments. On the other hand, InstaPay is a real-time, low-value digital payments facility, substitute for cash transactions.
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