Bangko Sentral ng Pilipinas (BSP) and Philippine Payments Management, Inc. (PPMI) Sign a MOA to Strengthen Governance in the Retail Payment System

The Bangko Sentral ng Pilipinas (BSP) and Philippine Payments Management, Inc. (PPMI) signed a Memorandum of Agreement on 12 January 2018 at the BSP Manila. Present at the MOA signing are: (seated from the left) BSP Deputy Governor Maria Almasara Cyd N. TuaAo-Amador, BSP Governor Nestor A. Espenilla, Jr., PPMI Chairman of the Board Justo A. Ortiz, and PPMI President Abraham T. Co. BSP Deputy Governor Chuchi G. Fonacier, NRPS Core Team Chair Raymond O. Estioko, and the rest of the PPMI Board of Directors were also present to grace the event.

Under the signed MOA, the BSP recognizes PPMI as the payment system management body (PSMB) while the PPMI recognizes the authority of the BSP as the primary overseer of the retail payment system given its critical role in the financial infrastructure as envisioned under the National Retail Payment System (NRPS) Framework.

Source: Bangko Sentral ng Pilipinas (BSP)

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