For the BSP, this starts with ensuring more Filipinos have access to a transaction account – in particular, an account that they can use not only to save money, but also to directly send and receive funds to and from anyone; in other words, an account that can be used for digital payments.
This is why our financial inclusion and digital payments agenda necessarily go hand-in-hand. One is both an enabler and a requisite for the other. Digital payments – that is, account to account fund transfers – make accounts a valuable and practical tool for anyone, even to those who say they do not have money to save.