Banks told to keep PESONet, InstaPay services available during holidays

The Bangko Sentral ng Pilipinas (BSP) asked banks offering PESONet and InstaPay services to keep customer support channels available during holidays and non-working days.

The BSP reiterated this requirement in anticipation of the public’s continued use of interoperable digital payment services over the holidays and long weekends.

It is also in line with the BSP’s broader efforts to promote financial consumer welfare.

PESONet is a batch electronic funds transfer service that is a viable alternative for checks and recurring payments.

InstaPay is a real-time, low-value digital payments facility that can be used for more immediate payment transactions.