The NRPS will expand the reach of financial services and will promote efficiency, transparency and development of business models improving economic competitiveness. With the NRPS, we hope to transition from a cash-heavy economy, where 99 percent of retail transactions by volume are done in cash, to a cash-lite economy, with transactions becoming mostly electronic.
Collaboration and cooperation In making all these happen, the BSP counts on its partners and stakeholders in the private sector, in the government, and in the academe. We understand that we cannot achieve our goals alone. Especially as we create an enabling environment for Fintech, we have awareness there are several industry regulators with oversight over multiple players. There are multi-layered relationships.