With ING's exit on their retail banking operations in Philippines coming to effect in the end of 2022. Let’s sort of reflect the future of digital banking in the country. As new players are coming to town, with the likes of GoTyme and Union Digital going live later this year. I don't see any reason at all to panic, at all.
There are also new features coming to Instapay with the most significant of them all is the interoperability that QR PH will provide. This means you can easily pay with any e-wallet or bank app to a merchant using QR PH. The future of digital banking is convenience, and it is now at our fingertips. In later updates we can easily transfer funds with an email address or a mobile number.
In a push of BSP's goal for digital transactions to make up 70% of the total volume by 2023. I believe that we're getting there. Not only that, BSP's vision for the future of regional payments connectivity through cross-border real-time retail payments is already in the works!
Needless to say there are a lot of things to look forward to in the coming years. And I can't wait~