The solution will provide transactions between existing payments platforms and will be available to hold in all e-money wallets. RCBC’s digital money will be based on eCurrency technology, which ensures that the digital payment instrument cannot be counterfeited or compromised; it will be available by Q2 2018.
The Banking Corporation also announced that it supports the regulatory sandbox initiative introduced by Bangko Sentral ng Pilipinas (BSP), the central bank, which recently released the results of a survey that showed that 86% of Filipino households do not have bank accounts.
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