BSP clears way for digital transaction fee hikes; Go wants charges lowered to P2-P5

Bangko Sentral ng Pilipinas

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has lifted its moratorium on increases in fees for transactions made through InstaPay and PESONet, while ordering banks to adopt cost-based pricing for electronic fund transfers under a new framework aimed at making digital payments more affordable.

In Memorandum No. M-2026-05, the central bank said the Monetary Board had approved the removal of the fee-hike freeze alongside the implementation of Circular No. 1238, which introduces amendments to the National Retail Payment System Framework and the Regulatory Framework for Merchant Payment Acceptance Activities.

“The lifting of the moratorium is grounded in the implementation of zero fees for small merchant payments, and the establishment of a pricing structure for person-to-person electronic fund transfers under the Circular, which aims to reduce fees for this segment and provide parameters for responsible pricing and market conduct,” the memorandum read.

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