Our flagship project, the National Retail Payments System (NRPS) is expected to boost economic activities by making available an inter-operable, safe, and efficient real-time digital payments system. In fact, a study by the United Nations-based Better than Cash Alliance (BTCA) provides that the Philippines has made great strides in driving up e-payments usage.
In 2013, we only had 1% epayments usage; in 2018, we had 10%. In terms of e-payments value, in 2013, it was only 8%; in 2018, 20%. Our target by the end of the year is to have transactions at 20% and value at 30%. By the end of 2023, we hope to have both percentages up by 50%.