The Philippine Payments Management Inc. (PPMI) is the Philippines’ duly recognized self-governing body tasked to support the Bangko Sentral ng Pilipinas (BSP) in overseeing proper operations and monitoring the implementation progress of the National Retail Payment System (NRPS) by enforcing its governance framework.
The PPMI oversees the environment by which financial institutions cooperate to enable payments across accounts in different financial institutions in alignment with the policies and strategies of the NRPS Framework.
Click link to BSP Circular No. 980 to see list of functions of PPMI.
Click link to BSP Circular No. 1033 to see rules governing the Confirmation of Eligiiblity as prerequisite for participation as members in the automated clearing houses for PESONet and InstaPay.
PESONet is an electronic funds transfer service that enables customers of participating banks, e-money issuers or mobile money operators to transfer funds in Philippine Peso currency to another customer of other participating banks, e-money issuers or mobile money operators in the Philippines. For example: a business or government agency who is a customer of Bank A, can pay another business, government agency or person who is a customer of Bank B, or an employee who is a customer of E-money Issuer C.
PESONet now services transactions 2x a day - before 12noon and before 4PM.
InstaPay is an electronic funds transfer service that enables customers of participating banks, e-money issuers or mobile money operators to transfer funds, in Philippine peso currency, anytime of the day and almost instantly between accounts.
Why avail of InstaPay?
Transfer funds of up to Php50,000 per transaction electronically
Make funds available to the recipient immediately
Perform transactions, anytime as it is accessible 24/7
Transact anywhere through mobile apps and internet banking