The Bangko Sentral ng Pilipinas (BSP) is encouraging the public to send their cash gifts or “Christmas Aguinaldo” through digital platforms instead of the traditional cash-giving in-persons.
In a press release on Monday, the BSP said all Ninong, Ninangs, and other gift-givers this holiday season can transfer money through digital payment channels that are faster, easy, and cheaper to use.
These include interbank fund transfers such as InstaPay and PESONet, electronic money or e-wallets, and Quick Response (QR) PH — a QR Code based on the Europay-Mastercard-VISA (EMV) standard.
“We encourage our countrymen to take advantage of the ease and safety provided by digital finance in sending their cash gifts during the holiday,” the BSP said.
It said that electronic aguinaldo or e-aguinaldo would support its “broader thrust to foster the wider adoption of digital payments, which promotes financial inclusion and the efficient flow of funds in the economy.”
BSP said under its Digital Payments Transformation roadmap, it aims to convert at least half of the total retail payments to digital form and onboard at least 70 percent of Filipino adults to the financial system by 2023.
