The Bangko Sentral ng Pilipinas (BSP) has introduced new regulations to improve the handling of customer issues with electronic fund transfers (EFTs) under the National Retail Payment System (NRPS). In a circular, the Monetary Board outlined standards for financial institutions involved in the InstaPay and PesoNet systems. The BSP circular mandates that originating financial institutions … Continue reading BSP issues new standards to simplify electronic fund transfers