The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management, Inc. (PPMI)1 launched three new digital payment initiatives to make payments more accessible, convenient, and responsive to the needs of Filipinos.
In a ceremony held at the BSP Head Office on 29 July 2026, the BSP and the PPMI launched Direct Debit PH, and the interoperable initiatives InstaPay Cash-In and InstaPay for Business.
“Interoperability and lower fees do more than lift transactions. They bring in more people. This is what financial inclusion looks like. More Filipinos sending and receiving money digitally. More Filipinos making the network stronger for everyone already on it,” BSP Governor Eli M. Remolona, Jr. said.
“This launch reaffirms the BSP’s commitment to build a payment system for every Filipino, and every Filipino business, no exceptions. This started with the National Retail Payment System Framework, which is the blueprint for a safer, faster, and more reliable and interoperable payment system,” said BSP Deputy Governor Mamerto E. Tangonan.
Direct Debit PH allows customers to authorize billers to automatically collect payments from their accounts on scheduled due dates.
The InstaPay Cash-In enables a user to send a request for funds to another user, who can then send the funds. Both users do this from their bank or e-wallet accounts.
1 The Philippine Payments Management, Inc. (PPMI) is a Bangko Sentral ng Pilipinas (BSP)-recognized Payment System Management Body (PSMB) responsible for managing and regulating retail payment systems in the Philippines. It plays a central role in developing, implementing, and maintaining electronic payment systems that enable fast, secure, and interoperable transactions among banks and non-bank financial institutions.
InstaPay for Business increases maximum transfers by registered business by 10 times from PHP50,000 to PHP 500,000.
All of these make it easier for businesses and individuals to do payment transactions.
The BSP and PPMI also reminded the public that the original QR Ph became QR Ph and InstaPay QR as early as 2024. Today, “QR Ph” refers to person-to-merchant (P2M) payments, where merchants shoulder the transaction fees. “InstaPay QR,” meanwhile, is used for person-to-person (P2P) fund transfers, which may be subject to fees depending on the account used in the transaction.
The event, which was held as part of the BSP’s 33rd anniversary month long activities, was attended by payments industry stakeholders and partners.
