PESONET

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.

FOR BUSINESSES/MERCHANTS

  • Improved efficiency
  • Increased revenues
  • Greater transparency and security
  • Stronger business relationship

IN GENERAL

  • 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)
  • SAME DAY TRANSFER
  • ANY AMOUNT PER TRANSACTION
  • AVAILABLE NATIONWIDE
  • CONVENIENT, SAFE AND SECURED