07/18/2021 | Press release | Distributed by Public on 07/19/2021 00:48
The Bangko Sentral ng Pilipinas (BSP) reminds the public to deal with, entertain product offerings, or carry out financial transactions only with BSP-registered Operators of Payment Systems (OPS).
Under BSP regulations, OPS include cash-in service providers, bills payment service providers, and entities such as payment gateways, platform providers, payment facilitators and merchant acquirers that enable sellers of goods and services to accept payments, in cash or digital form.
Registration of an OPS allows the BSP to have oversight of the payment system it operates to ensure that it functions safely, efficiently, and reliably by itself and in relation to the National Payment Systems Act (NPSA) or Republic Act 11127, consistent with the central bank's objectives of consumer protection and financial stability.
All OPS must register with the BSP pursuant to Circular 1049 which provides for the Rules and Regulations on the Registration of Operators of Payment Systems under the NPSA. A reference to the circular may be found at: https://www.bsp.gov.ph/Regulations/Issuances/2019/c1049.pdf.
For more information, please refer to these Frequently Asked Questions on the registration of OPS: https://www.bsp.gov.ph/PaymentAndSettlement/FAQ_OPS_Registration.pdf
To confirm if an OPS is duly registered with the BSP, the public may view the list at: https://www.bsp.gov.ph/PaymentAndSettlement/COR.pdf.
The public is encouraged to immediately report unregistered OPS to the BSP at the:
Payment System Oversight Department
Bangko Sentral ng Pilipinas
Mabini St., Malate, Manila 1004
Email: [email protected]
Tel Nos: 5306-2744