We have gained significant strides in this direction through the adoption of the national QR code standard as well as the use of online payment facilities for government transactions. On the legislative front, the BSP will push for the passage of the following priority bills: • Amendment to Republic Act Nos.
These savings contribute to the overall welfare improvement brought about by information technology. In the area of mortgage lending, for example, credit decisions today are routinely made in minutes rather than days and at much lower cost than a decade ago.