Bangko Sentral ng Pilipinas
The Bangko Sentral ng Pilipinas (BSP) launched PhilPaSSplus, the country’s next-generation PESO real-time gross settlement system (RTGS) on July 26, 2021. PhilPaSSplus is based on latest version of CMA's RTS/X product.
“Equipped with advanced features, PhilPaSSplus is a key milestone in our continuing efforts to have an efficient, secure and inclusive digital settlement platform for both large value and retail payments,” stated BSP Governor Benjamin E. Diokno.
By accepting only the globally prescribed ISO 20022 payment messaging standard, PhilPaSSplus enables the country to integrate with both domestic and cross-border payment ecosystems. The new-generation RTGS also provides more access channels for participating institutions, stronger security features and richer payment information.