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BSP and Industry Launch the National Retail Payment System

12.11.2015

Bangko Sentral ng Pilipinas Governor  Amando Tetangco, Jr. (third from left)  led  the  ceremonial toast to launch the National Retail Payment System (NRPS)  together  with  representatives  from  key  stakeholders  (from left) Bankers Association of the Philippines Chairman and Rizal Commercial Banking Corporation  President  and  CEO  Lorenzo  Tan,  Non-Bank  eMoney Issuer representative and  PayMaya  Philippines  President  and CEO Orlando Vea, BSP Supervision and Examination Sector Deputy Governor Nestor Espenilla, Jr.,  BSP Resource Management Sector Deputy Governor Vicente Aquino, Rural Bankers Association of the Philippines Past President Tomas Gomez IV and Chamber of Thrift Banks Past President and  Consultant to the Board Benjamin Yambao. The vision of the NRPS is to create a safe, efficient, and reliable electronic retail payment system that is interconnected and interoperable to generate benefits in terms of speed and efficiency of transactions, reduced costs, improved transparency, enhanced security, and expanded access to financial services. The NRPS is also a key element of the BSP’s commitment to the National Strategy for Financial Inclusion.

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