BSP, PPMI unveil new digital payment services under ONE brand

The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management, Inc. (PPMI) have introduced three new digital payment services designed to make electronic payments more accessible, interoperable, and convenient for both consumers and businesses in the Philippines.

The announcement was made during the launch of ONE, short for “One Philippines. One Payment Experience.”, which also serves as the new umbrella brand for the country’s interoperable payment ecosystem.

Why it matters: The new services expand how Filipinos and businesses can use banks and e-wallets for everyday transactions while supporting BSP’s goal of increasing digital payment adoption and strengthening the country’s cashless economy.

The details: Three new payment services are being rolled out under the country’s interoperable payment infrastructure:

• Direct Debit PH enables consumers to authorize accredited billers, including utility companies, insurance providers, lenders, and subscription services, to automatically collect payments from their bank accounts or e-wallets on scheduled due dates. The service aims to reduce missed payments while eliminating the need for manual transactions every billing cycle.

• InstaPay Cash-In (Request for Funds) allows users to send a request for funds to another person. Once approved, the sender can transfer the requested amount directly from their bank account or e-wallet. The feature builds on the interoperable cash-in capabilities that have already been introduced in selected banking applications.

• InstaPay for Business significantly raises the maximum transfer limit for registered businesses from PHP 50,000 to PHP 500,000 per transaction. The higher limit is expected to support larger supplier payments, business collections, payroll disbursements, and other high-value commercial transactions without relying on traditional banking channels.

During the presentation, BSP and PPMI highlighted that businesses have long faced slow, fragmented, and limited fund disbursement options, making it difficult to send higher-value payments instantly across different financial institutions.

According to PPMI, InstaPay for Business addresses these challenges by offering real-time fund disbursement, interoperability across participating banks and e-wallets, industry-grade security and compliance, and seamless digital transactions for businesses and consumers.

The bigger picture: BSP also reminded the public about changes made to the country’s QR payment ecosystem. Beginning in 2024, the original QR Ph brand was divided into two distinct services:

• QR Ph for merchant (Person-to-Merchant or P2M) payments
• InstaPay QR for person-to-person (P2P) fund transfers

Under the new branding strategy, these services are now unified under the ONE identity to provide a simpler and more recognizable payment experience for consumers and businesses.

The rebranding aims to make it easier for users to identify interoperable digital payment services regardless of which participating bank or e-wallet they use.

For Filipinos: The new payment services could simplify several everyday financial transactions. Consumers may no longer need to manually settle recurring bills each month through Direct Debit PH, while InstaPay Cash-In can make requesting money from family, friends, or customers easier across different financial institutions.

For businesses, the increased InstaPay transfer limit provides greater flexibility for paying suppliers, releasing payroll, and handling larger transactions in real time without being restricted by the previous PHP 50,000 ceiling.

What’s next: PPMI said participating banks and electronic money issuers will gradually implement the new services within their respective applications and platforms. Availability may vary depending on each financial institution’s rollout schedule.

The Bottom Line: With the launch of Direct Debit PH, InstaPay Cash-In, and InstaPay for Business under the new ONE brand, BSP and PPMI are continuing to expand the country’s interoperable digital payment infrastructure. The initiatives are expected to make digital payments more convenient for consumers while giving businesses greater flexibility in managing larger real-time financial transactions.