BusinessWorld E-paper
February 28, 2023
THE BANGKO SENTRAL ng Pilipinas (BSP) will likely cut banks’ reserve requirement ratio (RRR) to 10% to encourage them to cut transaction fees on small value digital payments, its governor said on Monday.
“We hope, in return, the banks will waive all fees on small transactions when people make bank-to-bank payments. We’re literally bribing the banks to subsidize the small transactions,” BSP Governor Felipe M. Medalla told an economic briefing on Monday.
