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BSP Confident of Hitting DPTR Targets.

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ENPNewswire-December 29, 2021--BSP Confident of Hitting DPTR Targets

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Release date- 27122021 - ?The Bangko Sentral ng Pilipinas (BSP) is optimistic that it will achieve its Digital Payments Transformation Roadmap (DPTR) targets of digitalizing at least 50 percent of retail payments volume and onboarding 70 percent of Filipino adults to the formal financial system via a payment or transaction account by 2023.

'We are confident of hitting the twin goals,' said BSP Governor Benjamin E. Diokno as he cited recent digitalization and financial inclusion figures during the HSBC Digital Bankers Forum held recently.

In terms of volume, the share of digital payments to total financial transactions reached 20.1 percent in 2020 from 14 percent in 2019 and only 1.0 percent in 2013.

'As more Filipinos embrace the convenience of digital payments, we expect the phenomenal growth in digital financial transactions to continue in the years ahead,' according to the Governor.

Meanwhile, registered e-money accounts reached 138.8 million last year with the total number of transactions at 1.7 billion. Likewise, the number of basic deposit accounts reached seven million with PHP4.8...

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