In its first 5 years, PhilPaSS processed an average of 1,000 transactions daily, valued at Php35 billion per day. In the last 5 years, the daily average is at 6,000 transactions, valued at Php 1.4 trillion per day! Today, we are in the process of upgrading PhilPaSS to replace the system implemented almost 16 years ago.
This will further enhance the safety, efficiency, and resiliency of the country’s settlement system. At the same time, we are migrating the communication and messaging systems of the infrastructure to the global standard ISO 20022. This shall prepare our payment and settlement system to be regionally and globally interoperable.