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MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is studying whether new regulations are needed to lower fees for online person-to-government payments as it waits to see how the market responds to a recent move by state-run Land Bank of the Philippines to waive charges on select transactions.
Speaking to reporters, BSP Deputy Governor Mamerto Tangonan said the BSP is assessing the impact of Landbank’s decision, which he said may influence broader market practices given the lender’s role in serving government agencies.
READ: Landbank waives online gov’t payment fees until year-end
The BSP’s review comes as the central bank weighs whether regulatory action is necessary to make government-related digital payments more affordable for Filipinos.
