At a July 29 ceremony at its head office, BSP rolled out three new payment initiatives: Direct Debit PH, InstaPay Cash-In and InstaPay for Business.
Direct Debit PH lets customers authorize billers to pull payments automatically from bank accounts on scheduled due dates, removing the need for manual payment each billing cycle.
The two new InstaPay services expand the central bank's instant-payment offerings by adding cash-in capability and a business-focused channel.
The launch signals BSP's push to broaden digital payment use in the Philippines by making recurring and real-time transactions easier for consumers and firms.