The Bangko Sentral ng Pilipinas (BSP) said that the adoption of electronic payments in malls facilitates an inclusive digital payments ecosystem. During the launch of “Cashless Malling at SM” in Pasay City, BSP Deputy Governor Bernadette Romulo-Puyat underscored that the digitalization of mall transactions will enable more Filipinos to enjoy the benefits of digital finance. These include the safety, convenience, and speed of electronic payments. Meanwhile, BSP Deputy Governor Mamerto E. Tangonan highlighted that digital payments encourage unbanked Filipinos to open a bank or electronic wallet account, which enables them to save money and access credit.
Photo below shows BSP Deputy Governors Romulo-Puyat and Tangonan with (from left) Department of Trade and Industry Assistant Secretary Mary Jean Pacheco, Department of Information and Communication Undersecretary David Almirol Jr., SM Supermalls President Steven Tan, SM Engineering Design and Development President Hans Sy Jr., and SM Malls Online App Vice President for Operations Daniel Lim.