HOW IT BEGAN?
- It all started when the BSP adopted and launched the National Retail Payment System (NRPS).
- NRPS is consistent with the BSP policy to establish a safe, efficient & reliable retail payment system in the country.
WHAT IS PESONET?
- PESONet is an Interbank Electronic Fund Transfer Platform
- Customers can do single, multiple or bulk fund transfer electronically from one account to another account/s maintained in other participating financial institutions
- It’s a good alternative to Checks
- It is a more inclusive platform for EFTs which makes B2B, B2C and even G2B & G2C payments more practical, convenient, fast and secure
KEY BENEFITS FOR FINANCIAL INSTITUTIONS
- Cross selling of products like loans, deposits, investments and insurance
- Digital innovation in the delivery of Financial Services
- Reduce cost in processing check payments
- Customer satisfaction and retention rate will increase.
- Greater transparency and security
- Stronger business relationship
- Beneficiaries receive funds in their account at full value on the same day (after settlement)
- Ease and convenience of doing business
- Personal safefty is ensured with cashless transactions
- Businesses will save time and resources in processing payments
EASE OF DOING BUSINESS
- BANKS/FIs INTERCONNECTIVITY
- OPEN TO ACCEPT 24/7 (M-F for now)
- ANY AMOUNT PER TRANSACTION
- CONVENIENT, SAFE AND SECURED