The Bangko Sentral ng Pilipinas (BSP) and Philippine Payments Management Inc. (PPMI) have introduced three new digital payment services designed to make paying bills, moving money, and doing business easier for Filipinos.
The new services, Direct Debit PH, InstaPay Cash-In, and InstaPay for Business, aim to expand the country’s digital payments ecosystem by adding automatic bill payments, easier wallet funding, and higher transfer limits for businesses.
Direct Debit PH allows customers to authorize companies, such as utilities and service providers, to automatically collect payments from their bank accounts on scheduled due dates. The feature is expected to reduce missed payments and eliminate the need for customers to manually pay recurring bills every month.
InstaPay Cash-In allows users to add funds to their bank account or e-wallet by requesting money from another financial institution using the receiving institution’s app. The feature aims to simplify cash-ins without requiring users to switch between multiple banking applications.
For businesses, InstaPay for Business raises the maximum transfer limit tenfold, from ₱50,000 to ₱500,000 per transaction for registered businesses. The higher limit is expected to support larger supplier payments, payroll transactions, and other business-to-business transfers without relying on checks or over-the-counter banking.
“Interoperability and lower fees do more than lift transactions. They bring in more people. This is what financial inclusion looks like. More Filipinos sending and receiving money digitally. More Filipinos making the network stronger for everyone already on it,” BSP Governor Eli Remolona Jr. said.
The rollout is part of the National Retail Payment System Framework, which the BSP describes as the foundation for a safer, faster, more reliable, and interoperable payments ecosystem.
“This launch reaffirms the BSP’s commitment to build a payment system for every Filipino, and every Filipino business, no exceptions. This started with the National Retail Payment System Framework, which is the blueprint for a safer, faster, more reliable, and interoperable payment system,” said BSP Deputy Governor Mamerto Tangonan.
The BSP and PPMI also reminded the public about the updated QR code branding introduced in 2024. QR Ph now refers to person-to-merchant (P2M) payments, where merchants pay the transaction fees, while InstaPay QR is used for person-to-person (P2P) fund transfers, which may carry fees depending on the account or financial institution.
The new payment services support the BSP’s long-term goal of increasing digital transactions in the Philippines while giving consumers and businesses more convenient alternatives to cash.