The Bangko Sentral ng Pilipinas (BSP) is intensifying its drive toward a digitally empowered, financially literate, and inclusive economy through a series of coordinated initiatives that blend education, technology, and innovation.
In a two-day session held in Dasmariñas City on July 23 and 24, 2025, the BSP’s Economic and Financial Learning Program (EFLP) engaged nearly 1,900 micro, small, and medium enterprise (MSME) owners and workers in a comprehensive course covering fundamental economic concepts, financial management, microfinance access, and the safe use of digital financial tools such as QR Ph and mobile wallets. The session’s dual focus empowered MSMEs with critical knowledge to navigate today’s increasingly digital economy and improve their business and financial decisions. Government and industry partners, including the Department of Trade and Industry, FinTech Alliance PH, and Registered Financial Planners Philippines, contributed expertise to ensure practical and relevant learning.
BSP Deputy Governor Bernadette Romulo-Puyat stressed the transformative power of education beyond classrooms, saying, “real empowerment starts with education … it should be something that relates to and permeates into your real life.” The initiative reflects the BSP’s ongoing commitment to making financial literacy accessible and actionable across all sectors, particularly among small businesses and their employees.
Parallel to empowering individual Filipinos through education, the BSP is also fostering the modernization of payment systems to accelerate the country’s digital transformation. On July 25, 2025, the Department of Transportation (DOTr), in partnership with the BSP and G-Xchange Inc. (GCash), launched revamped fare collection technology on Metro Rail Transit Line 3 (MRT-3). This initiative enables commuters to pay train fares via tap-to-pay using credit or debit cards, or scan-to-pay with QR codes from e-wallets—eliminating the need for physical tickets or card top-ups and streamlining daily travel for millions.
BSP Governor Eli M. Remolona Jr., through Monetary Board Member Walter C. Wassmer, praised the fare collection innovation as a vital step toward a “cash-lite economy, where Filipinos can confidently use digital payments for everyday transactions.” Deputy Governor Mamerto E. Tangonan emphasized the BSP’s role in ensuring interoperability and security in payment systems, a cornerstone for public trust and seamless user experience.
The new MRT-3 payment system exemplifies BSP’s broader agenda to digitize 60 to 70% of retail payments by 2028, in line with the Philippine Development Plan. The BSP’s collaborative efforts with transportation agencies and payment service providers highlight its integrated strategy—combining capacity building through education with infrastructure upgrades to create an efficient, inclusive, and resilient financial ecosystem
Together, these initiatives underscore the BSP’s vision of empowering Filipinos—from entrepreneurs and workers to daily commuters—by equipping them with knowledge and technologies that unlock opportunities, foster economic resilience, and drive sustainable growth in an increasingly digital world.
