Payment Service Providers
Already champions in the electronic payments ecosystem, payment service providers, includingbanks, payment or merchant aggregators, card processors, mPOS providers, technology providers, agent networks, EMIs and other financial institutions, strengthen the cause for societies to shift to cash-lite economies. Through the expansion of e-Payment channels and instruments, payment service providers are providing a platform for governments, businesses, and customers to adopt electronic payment services, and demonstrating increased access, convenience, security, and efficiency of financial transactions.
Increase interoperability among the various digital finance products and services can help to increase the value of using e-payment products for more customers. A more collaborative and interoperable network of payment service providers, can capitalize on common infrastructure developments, and reap more significant shares of the market and consumer base. This adoption of e-payments will in effect generate greater economic development and financial inclusion in the Philippines.