The Bangko Sentral ng Pilipinas (BSP) is mandating the full adoption of the Philippine QR Code standard by July 1, 2023.
In a statement on Friday, the BSP said its policy-setting Monetary Board has approved the guidelines that will facilitate the full transition of all quick response code-enabled payment services to the National QR Code Standard, or “QR Ph.”QR Ph is the country’s QR code standard, based on the Europay-Mastercard-VISA standard, a global standard for secure payments.
"With the active development of the industry in this space, it is timely for the BSP to ensure that QR-enabled payments are supported through the interoperable QR Ph standard. This way, PSPs and their clients would be able to fully realize the benefits brought by the convenience, speed, and ease of using QR Ph,” said BSP Governor Felipe Medalla.
Thereafter, “non-QR Ph codes or proprietary QR codes shall be disabled and shall no longer be available to the public,” it said. The BSP said PSPs are also reminded to provide appropriate product training and guidance on the features of QR Ph to their employees, including store cashiers and managers.The central bank said the memorandum implements BSP Circular No. 1055 on the "Adoption of the National Quick Response Code Standard," issued in October 2019.Circular No. 1055 requires BSFIs that serve as PSPs to adopt the national QR code standard in their payment services.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
BSP: Inflation, market interagency committee to ease pressure on prices | Cai U. OrdinarioTHE Bangko Sentral ng Pilipinas (BSP) believes the creation of the Interagency Committee (IAC) on Inflation and Market Outlook (IMO) can help address the supply-side issues of rising commodity prices. BSP Governor Felipe M. Medalla told BusinessMirror that monetary policy has its limits and one of them is “curing” supply-side…
Baca lebih lajut »
BSP ensures full adoption of QR PH – MedallaThe Nation's Leading Newspaper
Baca lebih lajut »
Toyota Refreshes Yaris Once Again For 2023 | CarGuide.PH | Philippine Car News, Car Reviews, Car Prices
Baca lebih lajut »
Bangsamoro Parliament enacts electoral codeMap of the Bangsamoro Autonomous Region in Muslim Mindanao in relation to Mindanao. BARMM comprises the provinces of Maguindanao del Norte, Maguindanao del Sur and Lanao del Sur in the mainland and…
Baca lebih lajut »
BARMM enacts Bangsamoro Electoral Code to elect officials in 2025MANILA, Philippines — The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) will be electing its officials in 2025 in accordance with the newly ratified Bangsamoro Electoral Code
Baca lebih lajut »
Teen queens: Philippine bets to four global teen pageants officially crownedMANILA, Philippines — They may still be teenagers, but these four young ladies are embarking on a global quest to bring home international recognition for the country so early in their
Baca lebih lajut »