The Bangko Sentral ng Pilipinas (BSP) just dropped the news that they’re extending the break for new digital money. If you were thinking of joining the electronic money party, you might need to wait until December 15, 2024.
BSP: Be Careful of Fake e-Wallet Transaction Notices!
Why the extension? Well, the BSP wants to make sure they’re using their resources wisely, promoting financial stability, and encouraging cool electronic money solutions.
Who’s already in the game? Names like GCash, Alipay Philippines, and Maya Philippines Inc. might ring a bell.
The BSP is also hitting the brakes on digital banks, keeping an eye on how they’re doing. Why? They’re all about financial inclusion, and by 2023, they want half of all transactions to go digital and 70% of Filipino adults to have bank accounts.
So, if you’re into the whole digital money revolution, stay tuned!
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