What is PESONet?
PESONet is a new 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.
It is the most convenient, affordable, reliable and secure electronic funds transfer service that government and businesses can use to pay each other and individual persons (e.g. government-to-government, government-to-business, government-to-person, business-to-government, business-to-business and business-to-person), It is also the most practical way for persons to pay, send or remit money to other persons especially for non-urgent transactions.
PESONet is the best payment method for bulk disbursements or payments. It is the perfect alternative to checks!