PESONet MBS seen to boost BSP digitalization drive

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno (top left) said the recent launch of the PESONet Multiple Batch Settlement (MBS) facility provides support to the BSP’s broader efforts to digitalize half of retail payments volume and onboard 70 percent of adult Filipinos to the formal financial system by 2023.

A joint BSP and Philippine Payments Management Inc. (PPMI) initiative, the MBS facility increases the frequency of batch settlements from one to two in a move that is expected to boost person-to-government (P2G), government-to-person (G2P), and business-to-business (B2B) payments.

Joining the Governor in the online PESONet MBS launch are Monetary Board Members Anita Linda Aquino, Peter Favila, and Antonio Abacan, Jr.; Deputy Governors Mamerto Tangonan, Chuchi Fonacier, and Francisco Dakila, Jr; BSP Officers Assistant Governor Edna Villa, Senior Director Raymond Estioko, Director Jay Dizon, Atty. Tricia Andres, Atty. Bridget Rose Romero, and Ann Michelle Andres; and from partner agencies: Chairman Justo Ortiz, Abraham Co, and Carmelita Araneta of PPMI, PESONet steering committee led by John Cary Ong, and PESONet technical working group led by Sari Mortel.