PESONet transactions more than doubled with the volume surging from 1.1 million to about 2.7 million, i.e., by 143 percent year-on-year. Total value rose from Php 118 billion to Php 253 billion, or by 114 percent over the same period.
Aside from aiding businesses in mobilizing funds during the pandemic, the PESONet was also used to distribute welfare benefits from the Social Security System’s Small Business Wage Subsidy (SBWS) Program. It is because of these developments that we are pursuing the BSP’s three-year digital payments transformation roadmap.