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TRANSCRIPT
Digitalization of Banking Services
RBAP 60th Charter Anniversary Symposium 23-24 October 2017 | Manila Hotel, Rizal Park, Manila
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
ACCREDITED REMCO
OUTLET
Remittance/ Payroll
Person-to-Person
Transfer
NRPS Vision
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