It provides an enabling platform that can transform the way financial services are efficiently delivered and consumed. In this regard, the BSP is committed to drive modernization of the country’s retail payment system, promote electronic retail payments, and facilitate inter-operability for faster settlement of 4/5  BIS central bankers' speeches  transactions.
The launch of the National Retail Payment System, in partnership with industry stakeholders, will help us achieve this vision of a “cash-lite” economy. From invisible to helping hands At the onset, I expressed how the role of Government in economic markets has shifted from exclusion, to regulation, to cooperation.