The Philippines is becoming a key player in ASEAN’s push for a seamless, secure cross-border payment system through the Regional Payment Connectivity (RPC) initiative.
The RPC aims to make cross-border payments faster, cheaper, and more inclusive by linking digital payment systems across Southeast Asia and partners like India, Japan, and Hong Kong.
The Bangko Sentral ng Pilipinas (BSP) is actively collaborating with regional counterparts and is compliant with international standards for real-time payments.
Despite progress, challenges remain in harmonizing regulations, anti-money laundering policies, and consumer protections across ASEAN.
The initiative is expected to boost financial inclusion, lower transaction costs, and benefit the Philippines’ growing digital economy and large overseas workforce.
Source: PhilNews24 | July 6, 2025
PHILIPPINES EMERGES AS KEY PLAYER IN DIGITAL PAYMENTS GROWTH
Latest from Business
The Department of Agriculture is studying the implementation of a suggested retail price of P53 per
TikTok Shop is aiming to surpass its previous sales growth this year despite rising prices caused
GCash has doubled its profit contribution to Globe Telecom Inc. to P1.9 billion in the first
The rotating brownouts that affected Luzon and the Visayas this week exposed major weaknesses in the
Pickup Coffee is pushing ahead with its expansion plans, banking on Filipinos’ strong coffee culture and