Daily TribuneBSP issued the reminder in anticipation of the public’s continued use of interoperable digital payment services over the holidays and long weekends.
Bangko Sentral ng Pilipinas
The Bangko Sentral ng Pilipinas or BSP on Friday reminded BSP-Supervised Financial Institutions offering PESONet and InstaPay services to ensure the availability of customer services during holidays and non-working days consistent with BSP Memorandum M-2023-011.
The BSP issued the reminder in anticipation of the public’s continued use of interoperable digital payment services over the holidays and long weekends.
“This reminder is likewise in line with the BSP’s broader efforts to promote financial consumer welfare,” the central bank said.
Continued availability needed
Memorandum M-2023-011 dated 30 March 2023 mandates all BSFIs participating in the PESONet and or InstaPay to ensure the continued availability and accessibility of their respective customer service such as hotlines and other support services to promptly and effectively provide assistance to clients regarding their PESONet and InstaPay-related concerns during non-working periods.
PESONet is a batch electronic funds transfer service that is a viable alternative for checks and recurring payments.
InstaPay, meanwhile, is a real-time, low-value digital payments facility that can be used for more immediate payment transactions.
