rbap 60th charter anniversary ... rbap 60th charter anniversary symposium 23-24 october 2017 |...

Digitalization of Banking Services

RBAP 60th Charter Anniversary Symposium 23-24 October 2017 | Manila Hotel, Rizal Park, Manila

Retail Payment Options

Cash Check

Electronic Delivery Channels

RATIONALE AND OPPORTUNITIES

National Retail Payment System (NRPS)

Purchase of Goods

Payment of Fare

Bank Service - Deposits - Loans - Bills Pay - Payroll - Investment - Others

Utility Bills Payment

Payment of School Fees

Payment of Taxes and Licenses

ACCREDITE D REMCO

OUTLET

Remittance/ Payroll

Person-to- Person

Transfer

NRPS Vision

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Criteria for membership

Membership to the Payment System Management Body (PSMB) is required

• Financial institution duly licensed by the BSP

• Engage in holding funds of customers (banks and non- bank electronic money issuers)

• Authorized by BSP to offer e-banking/e-money services

• Meet technical and operational standards of the ACH

• Actively participate in at least one (1) ACH

• Settle clearing results with BSP’s PhilPaSS

Clearing Operator

1 Issue payment instruction to Originating FI

3 Forward payment instruction to ACH

Originating Institution

SENDER

5

Settlement (Debit DDA of OI)

6 Route message to Receiving FI

7 Credit account of payee

4 Settlement with PhilPaSS

Receiving Institution

PAYEE

5 Settlement (Credit DDA of RI)

BSP

Settlement

PESO Net ACH (Batch EFT Credit)

2 Debit account of Payor / Sender

InstaPay ACH (Real Time EFT Credit)

Settlement

12