BSP to banks: Ensure PESONet, InstaPay working during Holy Week break

The Bangko Sentral ng Pilipinas (BSP) reminded banks and its supervised financial institutions on Friday to ensure the availability of PESONet and InstaPay customer services during the Holy Week break. 

The BSP issued the advisory ahead of the Holy Week break from Maundy Thursday, March 28, to Easter Sunday, March 31.

The central bank said continuous availability of the online fund transfer services is a requirement in “anticipation of the public’s continued use of interoperable digital payment services over the holidays and long weekends.”

“This reminder is likewise in line with the BSP’s broader efforts to promote financial consumer welfare,” the BSP said.

PESONet is a batch electronic funds transfer service that is a viable alternative for checks and recurring payments, while InstaPay is a real-time, low-value digital payments facility that can be used for more immediate payment transactions. — VBL, GMA Integrated News