The Central Bank of the Philippines outlined an approach to digital financial inclusion that extends beyond account ownership and transaction volumes to whether services are accessible, affordable, understandable and useful. It identified digital payments as an entry point to savings, credit, investments and insurance, while stressing that fees, account requirements, connectivity, literacy, trust, safety and ease of use continue to affect participation in the formal financial system. Existing measures include Basic Deposit Accounts with an opening amount of no more than PHP 100 and no maintaining balance or dormancy charges, an interoperable digital payments system and Paleng-QR Ph Plus for community-based merchants. Financial education, consumer protection and competition among banks, e-wallets, fintech firms and other providers support the broader objective of improving Filipinos’ ability to manage finances, withstand shocks and build financial security.
Central Bank of the Philippines2026-08-14
Central Bank of the Philippines outlines broader digital inclusion agenda focused on affordability and financial health
The Central Bank of the Philippines outlined a digital inclusion agenda focused on affordability, accessibility and financial health rather than account ownership and transaction volumes alone. Its measures include low-cost Basic Deposit Accounts, interoperable payments, community QR payments, financial education and stronger consumer protection.