MANILA -- The Bangko Sentral ng Pilipinas (BSP) said that “interoperability” within payment systems enhances customer experience and boosts business growth.
During RCBC’s ‘Lahat Pwede’ QR Ph Campaign launch on 28 April 2023, BSP Deputy Governor Mamerto E. Tangonan explained that “interoperability means an individual, business, or government agency using a bank or e-money product is able to pay or transfer funds to another (entity) even if the payor’s and the payee’s banks are different.”
This helps businesses attract more customers who seek the convenience and speed of online transactions.
Boosting interoperability in the Philippines is included in the rollout of QR Ph, the national standard for payments using quick response (QR) codes. Hazel Cultura Bangko Sentral ng Pilipinas BSP Cebu Regional Office
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