MANILA, Philippines — The central bank may soon allow large scale electronic fund transactions to be settled through its clearing house even during non-banking days in an effort to make the local payments infrastructure more efficient.
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said this policy will depend on enhancements currently being prepared for the PESONet framework which are aimed at making faster cash transfers among banks using this system.
“Very soon, we plan to stretch further the usefulness of PESONet by increasing the clearing frequency of its transactions,” he said at the online launch on Tuesday (Nov. 24) of ING Pay Account service.
With these im…
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