DTI SUPPORTS BSP FOR NEW E-PAYMENT SOLUTIONS. Department of Trade and Industry (DTI) Secretary Ramon Lopez (3rd from L) with USAID Philippines Acting Office Director Dr. Stephen Andoseph (leftmost), Malaya Rural Bank, President Antonio Pasia(2nd from L), Union Bank Philippines Chairman Mr. Justo Ortiz (center R), PayMaya Philippines President Orlando Vea (3rd from R) and Wealth Development Bank President Mr. Gregorio Anonas III (rightmost) recently (31 March) extended support for the National Retail Payment System (NRPS) during the ceremonial signing of the Payment System Management Body (PMSB) Charter in Manila. The PSMB will pave way to the for the creation of two E-Retail Payment Systems, PESO Net and InstaPay, which aim to provide ease of access to credit and spur the growth of the E-commerce industry in the country by providing safe, reliant and efficient online payment system. “This continuous innovation by the Bangko Sentral ng Pilipinas (BSP) helps not the economy but more importantly the micro, small and medium enterprises (MSMEs) sector,” said Secretary Lopez, adding that the NRPS will provide a technology that is more accessible to all, including the MSMEs. This will lead to financial inclusion and, more importantly, will promote efficiencies and lower cost of doing business. The ceremony was opened and led by BSP Governor Amando Tetangco (center L) and Deputy Governor Nestor Espenilla Jr.(2nd from L).
