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BSP Sustains Digitalization Push for Post COVID-19 Economy.

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ENPNewswire-September 20, 2021--BSP Sustains Digitalization Push for Post COVID-19 Economy

(C)2021 ENPublishing - http://www.enpublishing.co.uk

Release date- 17092021 - ?The Bangko Sentral ng Pilipinas (BSP) will continue promoting the digitalization of financial products and services in the Philippines as part of its broader efforts to foster a resilient 'post-COVID-19 economy'.

'This will usher in a post-COVID-19 economy that is stronger, more technologically advanced, and more inclusive than ever before,' according to BSP Governor Benjamin E. Diokno.

The Governor made this remark during the recent meeting of ACI - The Financial Markets Association, Fund Managers Association of the Philippines, Investment House Association of the Philippines, Money Market Association of the Philippines, National Association of Securities Broker Salesman, Inc., and Trust Officers Association of the Philippines.

Towards this end, the central bank launched the Digital Payments Transformation Roadmap (DPTR) for 2020-2023 last year.

Under the DPTR, the BSP aims to strengthen customer preference for digital payments by converting 50 percent of the total volume of retail payments into digital form, and expanding the number of the financially included to 70 percent of Filipino adults by onboarding them to the formal financial system using payment or transaction accounts.

Through the roadmap, the BSP aims to transform the country into a cash-lite society. Amid the pandemic, the use of digital payments also helped reduce the need...

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