Wise, a global financial technology company, now has direct access to InstaPay, the Philippines’ real-time payments infrastructure. The connection allows Wise to settle directly with the Bangko Sentral ng Pilipinas (BSP) through PhilPaSS Plus, the central bank’s real-time settlement system. This is Wise’s sixth integration with domestic payment systems globally.
Through InstaPay, Wise can now deliver near-instant transfers to the Philippines in less than 20 seconds. Filipino customers using Wise to send or spend funds will experience quicker transaction times and have additional options for topping up their Wise accounts.
“Six months after launching the Wise account and prepaid card in the Philippines, we’re excited to be directly connected to InstaPay and to directly settle with PhilPaSSPlus,” said Areson Cuevas, country manager for Wise Philippines. “This milestone, following our successful direct integrations into five other payment systems worldwide, marks a significant step forward in our mission to make international payments faster, cheaper, and more convenient for our Filipino customers, and our Wise Platform partners.”
Wise customers, including users of the Wise Platform through partner banks, can send up to P50,000 to the Philippines instantly. Although transactions exceeding this amount aren’t processed through InstaPay, 94% of transfers still reach recipients within 24 hours. For Filipino users, transferring funds to local banks or e-wallets from a Wise account will now be faster and more seamless.
With previous integrations in the UK, EU, Singapore, and Australia, and recent approval to connect to Japan’s Zengin and Brazil’s PIX systems, Wise is steadily increasing its reach across major global markets.