The new BSP Charter or Republic Act 11211 embodies a package of reforms that will further align its operations with global best practices, improve the BSP’s corporate viability, and enhance its capacity for crafting proactive policies amid rising interlinkages in the financial markets and the broader economy. The real essence of nation-building is when the private and public sector build on each other’s productivity.
Many of the innovative payment solutions introduced over the past few years have been based on the use of card payment schemes. Although payment cards are the most widely used payment instrument in Europe, a true SEPA for cards has not yet been achieved.