The Bangko Sentral ng Pilipinas and the Philippine Payments Management Inc. launched on Tuesday the Bills Pay PH in line with continuing efforts to digitalize the country’s retail payments landscape.
Bills Pay PH facilitates digital transactions between accounts from different payment service providers. Transactions can be performed by scanning or uploading the QR Ph Person-to-Biller code or by manually inputting payment details for the non-QR mode of payment. QR Ph is the national standard for quick response codes.
“Through our continued collaboration with PPMI, we expect to broaden the reach of the benefits of digitalization for more Filipinos, be it individuals or businesses, through more convenient, affordable, efficient, and responsive digital payment services,” BSP Governor Felipe Medalla said.
Medalla expressed optimism that the new facility would take the central bank closer to its goals of digitalizing at least half of retail payments and financially including at least 70 percent of Filipino adults in the country by 2023.
