TRANSACTIONS COURSED through PESONet and InstaPay rose as of end-November, with both payment systems seeing growth in volume and value, according to data from the Bangko Sentral ng Pilipinas (BSP).
ROBIN WORRALL-UNSPLASHthrough PESONet and InstaPay rose as of end-November, with both payment systems seeing growth in volume and value, according to data from the Bangko Sentral ng Pilipinas .
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the rise in PESONet and InstaPay transactions came amid the continued reopening of the economy. Broken down, the value of transactions done via PESONet surged by 42.6% to P5.75 trillion as of end-November, from P4.03 trillion in the same period in 2021.
The BSP also attributed the rise in InstaPay transactions to the wider use of online banking and e-money transactions for domestic remittances, e-commerce, bills payment, and other immediate low-value payments.
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