Money can move in a jiffy through this platform.
The Bangko Sentral ng Pilipinas (BSP) has rolled out the InstaPay service on Monday, April 23 meant to process real-time fund transfers across different banks and digital wallets.
In a statement, the central bank said the newest payment channel will process transactions 24/7, with the amounts to be credited just a few seconds after the payment is made.
“Via InstaPay, Filipinos can start enjoying safe and affordable electronic retail payments in real-time. Individuals, businesses, and government institutions will be able to send and receive funds or make payments in real time of up to PHP50,000 per transaction, without limit, in a day,” the BSP said.
These transactions are done online and via bank’s apps, and will eventually extend to electronic money wallets.
“This eliminates the need to go through the trouble of physically travelling and transacting at bank branches or payments counters,” the central bank added.
January – ZERO WASTE MONTH
“Stop wasting our money.
Stop corruption!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
January
24 Jan – International Day of Education
26 Jan – International Day of Clean Energy
Monthly Observances:
National Microinsurance Month
Zero Waste Month
Weekly Observances:
Week 1: National Time Consciousness Week
Week 3: National Mental Health Week
Last Week: Children’s Week
Daily Observances:
January 6: Community Development Day
Third Sunday: Children’s Day
Day of Sanctity and Protection of Human Life
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