The Bangko Sentral ng Pilipinas (BSP) has rolled out new guidelines to ensure transparent and fair pricing for electronic payments (e-payments) provided by banks and non-bank institutions.
These regulations require BSP-supervised institutions (BSIs) to create clear pricing structures for e-payment services offered to consumers. The rules emphasize avoiding collusive practices, adopting competitive pricing strategies, and ensuring cost recovery.
The BSP stresses that pricing policies should safeguard consumers and promote financial inclusion in the Philippines. BSIs must disclose all fees and charges associated with e-payment transactions, providing transparent justifications for these charges.
These guidelines build upon existing BSP regulations, such as the National Retail Payment System (NRPS) Framework and the Financial Products and Services Consumer Protection Act.
The goal is to foster a consumer-centric and competitive e-payment environment across the nation.
