Status
Operating at scale
Data Exchange System Name
Data Exchange System
Data Exchange System link
If a RTPS exists
Yes
Vision: PSP interoperability
Yes
Digital ID System Name
PhilSys/ PhilID
ID System link
Name (Payment)
PhilPaSS,InstaPay,Higala,Regional Payment Connectivitiy (RPC)
URL (Payment)
Region
Asia
# of participants
Unknown,2023- 79,Unknown,Unknown
AML law
Unknown
Bank participation in network
Yes
Centralised fraud management system?
Unknown
Consumer protection law
Yes
Governor
Central bank
Instant settlement system/ platform
Yes
Non-bank participation in network
Yes
Notes
Offline transactions
No
Operator
Central bankBanking associationCommercial bank/ Private PSPCentral bank
QR-based transactions
No
Reporting forum/ website/ form
Unknown
Rules: data handling rules for PSPs, users
Central bank/ Financial regulator
Rules: data leak notifications
Yes
Rules: participation conditions
Yes
Rules: recourse mechanism
Unknown
Rules: transaction recall
Unknown
Settlement systems
RTGS,ACH,Unknown,Unknown
Transaction cost
Unknown,Free for receivers up to 850 USD,Unknown,Unknown,Unknown
Transaction types
P2P
P2M
B2BP2PP2P
P2M
B2BB2B
Value (Year-USD)
2024- 127 K
Volume (Year- Volume)
2024- 767 K,2022- 55 M,Unknown,Unknown