On June 17, 2026, the Bangko Sentral ng Pilipinas (“BSP”) issued Memorandum No. M-2026-025 (the “Memorandum”) and BSP Circular No. 1238 (the “Circular”) lifting the moratorium on increase of fees for Instapay and PESONet Transactions and amending the rules to regulate payment charges to be more fair, transparent, and commensurate with underlying expenses of delivery of operations.
The moratorium was lifted to support fairer pricing in digital payments and a structured approach to person‑to‑person transfers. These reforms aim to lower costs, encourage responsible market practices, and advance the BSP’s broader goals of expanding digital finance, inclusion, and innovation, while keeping strong safeguards for oversight and consumer protection.
Read the full bulletin here or download via this link.
This bulletin was prepared by SyCipLaw’s Banking, Finance and Securities Department. Jules Duke M. Contreras assisted in the preparation of this bulletin.
For more information about the legal issuance discussed in this bulletin, please contact:
Philbert E. Varona
Senior Partner and Head of the Banking, Finance and Securities Department
pevarona@syciplaw.com
