BSP amends e-payments framework to promote more affordable digital transactions

​​The Bangko Sentral ng Pilipinas (BSP) is pushing for fair and transparent fees in digital transactions by introducing measures to lower interbank fees. It will also require BSP-supervised financial institutions to be prepared to show how they compute their costs.

Under Circular No. 1238 issued on June 17, 2026, fees for person-to-person e-payments across banks, e-wallet operators, and other payment service providers (PSPs) should not be materially different from fees within the same institution. Transfers within one bank or e-wallet are often free. So any difference in pricing should mainly reflect fees paid to the network switch operator.

These institutions must now also have an analysis of their costs for delivering electronic payment products and services. The BSP may require this in the conduct of its oversight activities. 

BSP Governor Eli M. Remolona, Jr. said, “Lower fees will encourage more Filipinos and businesses to use and benefit from digital transactions. The BSP sees this as a step toward making digital transactions even more mainstream. At the same time, greater adoption can help improve efficiency across the payments system, reducing costs for everyone.”

The circular addresses findings from the BSP’s Consumer Expectations Survey in Q4 2025. The survey showed that one in three Filipino consumers consider high fees as a leading barrier to using digital payments more frequently.

The circular on pricing digital transaction fees amends the National Retail Payment System Framework and the Regulatory Framework for Merchant Payment Acceptance Activities (RFMPAA).
The circular also makes another amendment to the RFMPAA to expand transaction points where users can make digital payments. Both moves are needed to speed up the growth of the digital ecosystem.
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Under the circular, micro businesses such as sari-sari stores will be allowed to open an account using the National ID or any official document. This can help more micro businesses to accept digital payments as well as avail of other financial services.