The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management Inc. (PPMI) have launched three new digital payment services in the Philippines.
The new services include Direct Debit PH, InstaPay Cash-In, and InstaPay for Business.
Direct Debit PH lets customers authorize companies to automatically collect payments from their bank or e-wallet accounts on scheduled due dates.
It is designed for recurring payments such as utility bills, subscriptions, loan payments, and insurance premiums.
Meanwhile, InstaPay Cash-In allows users to transfer funds between their own accounts across participating banks and electronic money issuers. The service is currently available through participating institutions, including AllBank, Bank of the Philippine Islands (BPI), China Banking Corporation, GoTyme Bank, GCash, MariBank Philippines, ShopeePay, and UnionBank.
For businesses, InstaPay for Business raises the maximum transfer limit from PHP 50,000 to PHP 500,000 for registered business accounts.
During the launch, the BSP and PPMI also reminded the public about the distinction between QR Ph and InstaPay QR.
QR Ph is used for person-to-merchant (P2M) payments, where merchants pay the transaction fees, while InstaPay QR is for person-to-person (P2P) fund transfers, which may have fees depending on the account used.
According to the BSP, QR Ph processed more than 2.53 billion transactions worth over PHP 1.14 trillion as of June 2026.
The central bank is targeting digital payments to account for 60% to 70% of the country’s total retail payment volume by 2028.
What do you think of these Philippines new digital payments.
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