Three new payment services launched in the Philippines

InstaPay for Businesses increases maximum transfers to $8,144 (PHP500,000).

The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management, Inc. (PPMI) have launched three new digital payment services that includes expanding the maximum transfer amount for businesses.

Direct Debit PH allows customers to authorise billers to automatically collect payments from their accounts on scheduled due dates.

InstaPay Cash-In enables a user to send a request for funds to another user via bank or e-wallet.

InstaPay for Businesses increases maximum transfers by registered businesses by 10 times, from $814 (PHP50,000) to $8,144 (PHP500,000).

BSP said that all these make it easier for businesses and individuals to do payment transactions.

BSP and PPMI launched the new services in a ceremony at the BSP head office on 29 July 2026.

The move is part of BSP’s move to encourage more Filipinos to use digital money service, its governor said.

“Interoperability and lower fees do more than lift transactions. They bring in more people,” said BSP Governor Eli M. Remolona, Jr.

The central bank recently inked an information sharing agreement with the Philippines’ Department of Justice to improve investigation of financial accounts tied to scams.

Separately, the BSP issued governance principles for financial institutions and vendors adopting artificial intelligence (AI).

(US$1 = PHP 61.39, as of 30 July 2026)