The widespread use of digital money is in line with the BSP's digital payment transformation and financial inclusion goals.
When buying and sending gifts this Christmas, try using digital wallets, which are safe, secure, efficient and convenient in transferring funds to family and friends.
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno is pushing the use of digital money as an alternative means of giving cash gifts to reduce physical contact and virus transmission between giver and receiver.
This will allow the Filipino tradition of giving aguinaldo to family, friends, and significant others to continue despite restrictions on mobility and face-to-face gatherings.
The widespread use of digital money is in line with the BSP's digital payment transformation and financial inclusion goals.
In its latest report, the BSP achieved its target of reaching 20 percent of digital payments volume by 2020, largely driven by high-frequency, low-value retail transactions through electronic fund transfers.
The BSP remains committed to catalyzing digitalization of payments and digitizing at least half of all transactions by 2023 in its push to promote a more inclusive and tech savvy Philippine economy.
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