Philippines Launches 3 Payment Services, Lifting InstaPay Business Transfers to ₱500,000
Updated
Updated · Gulf News · Jul 31
Philippines Launches 3 Payment Services, Lifting InstaPay Business Transfers to ₱500,000
3 articles · Updated · Gulf News · Jul 31
Summary
BSP and PPMI rolled out Direct Debit PH, InstaPay Cash-In and InstaPay for Business on July 29 to link banks and e-wallets more seamlessly for consumers and companies.
₱500,000 is the new per-transaction ceiling for InstaPay for Business, up tenfold from ₱50,000, allowing 24/7 real-time payroll, supplier payments, insurance claims and intercompany transfers.
InstaPay Cash-In lets users move money from their own bank account into another account or e-wallet from the receiving app itself, with initial participants including BPI, GCash, UnionBank and ShopeePay.
Direct Debit PH lets customers authorize automatic collections for utilities, loans, insurance and subscriptions across participating institutions, after pilots involving BDO, BPI, RCBC and China Bank.
Fees remain institution-set rather than fixed nationwide, underscoring BSP's broader push to make Philippine digital payments more interoperable, accessible and less reliant on checks or fragmented bank links.