BSP: 2028 digital payment goal achievable following zero transfer fees

The Philippine central bank (BSP) has mandated zero or near-zero transfer fees for interbank digital payments, effective July 2026, to accelerate adoption towards its 60–70% digital payment volume target by 2028. Banks and e-wallet providers have begun waiving fees; digital transaction volume has risen 50% among existing users, and the BSP reports digital payments already account for 57.4% of retail transaction volume.

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