Public reaction to the crisis and the need to rebuild trust The huge cost of the financial crisis, both in terms of direct public support to banks and lost economic output has sadly fallen to tax payers, causing an understandable and justified public outcry.
In October last year, the BSP launched the Digital Payments Transformation Roadmap. Our goal is to shift from a cash-heavy to a cash-light society, where at least half of financial transactions are done digitally. By 2023, our other goal is that at least 70 percent of the adult population should have financial accounts.