As the Committee noted in its most recent post-meeting statement, the intent of those actions has been to help promote moderate growth over time and to mitigate the risks to economic activity.
The BSP’s Digital Payments Transformation Roadmap for 2020 to 2023 sets out our initiatives and strategies for achieving an efficient, safe and inclusive payments ecosystem. It has two key strategic objectives. First, it aims to strengthen customers’ preference for digital payments by converting 50 percent of the total volume of retail payments into digital form.