• By The Financial District

BANGKO SENTRAL SETS DIGITAL PAYMENTS

The Bangko Sentral ng PIlipinas (BSP) is pushing through with its advocacy to promote digital payments with its own special payment system.

In line with this, the  BSP is launching the New Order of Payment System or NOPS to provide BSP’s clients with accessible payment facilities especially during this pandemic. 


NOPS is designed as a secure web-based system easily accessible to the public through the internet.  The main feature of the NOPS is the availability of various payment channels where the BSP’s clients can pay their obligations to the monetary agency.


The National Retail Payment System (NRPS) raised the expectations on the BSP. As the organization tasked to push for digitalization of payments, the BSP has to “walk the talk” by pursuing the digitalization of its retail transactions, particularly from both its internal and external stakeholders.


Under the digital plan,  payments can be made to the BSP Depository Banks through the following: Over-the-counter; mobile or online banking; and payment gateway (e.g., VISA/Mastercard debit or credit card*)


In the pipeline are other payment channels such as payment via PESONet and Instapay gateways, e-money service providers and other payment partners.


Asset Management Department clients may also use NOPS to generate their own Order of Payment statements, inquire status, and download Official Receipts (OR).


Among the transactions to be collected by the BSP through the NOPS are the following:

  1. Property amortizations and lease rentals;

  2. Licensing and registration fees of new banks, pawnshops and money service businesses;

  3. Sale of bidding documents and payment of bid securities;

  4. Sale of BSP corporate items; and

  5. Other amounts due to the BSP.



The Financial District would like to learn more from its audience. Can you please give us feedback on this article you just read. Click Here to participate in our online survey.


Register for News Alerts

  • LinkedIn
  • Instagram
  • YouTube

WHERE BUSINESS CLICKS

The Financial District®  2020