management body pursuant to the national payment systems act and the recently issued payment system oversight framework which implements this act. needless to say that the bsp views the ppmi as an important ally in reshaping our payments landscape. but this is not the time to rest on our laurels. there is still much to be done. ( 2 clicks ) now that the “ ber ” months have begun, i made sure that my christmas wish list includes further developments in this path we take together. firstly, i wish that the ppmi make greater strides in expanding the egovpay by persuading more banks and e - money issuers to take part in the egovpay ecosystem. we can optimize the use of egov pay only if there are more payment service providers offering this facility. secondly, i urge the pesonet participating - institutions to support the electronic transmission of the social security system ( sss ) benefits and loans. please ensure that the end - to - end payment process will run smoothly. there are close to 3 million pensioners who will depend on pesonet to safely and efficiently receive their sss benefits starting next month. let ’ s take it upon ourselves to ensure that our countrymen get what they deserve, especially throughout this pandemic. i understand that ppmi is working with the bsp in improving the frequency of the pesonet clearing and settlement cycle from presently, once a day to multiple times a day including weekends, if feasible. 2 / 3 bis central bankers'speeches i welcome this initiative as it will not only speed up the payment process for high - value transfers, but also support the funding requirements for business firms which are the among the critical movers of the economy. the next one i have been looking forward to is the establishment of a bills pay facility. as you may know, currently, the country has a fragmented bills payment mechanism where a biller typically must make a bilateral arrangement with a psp if the biller wants to electronically collect from the clients of said psp. this inefficiency calls for the establishment of an integrated bills pay facility, where a biller can collect from the payers even if the psps of the payers are different from that of the biller. on qr ph, i hope to see micro and small merchants accepting payments using the person - tomerchant or p2m qr ph. i understand that the pandemic has placed some operational constraints

big catalyst for this change in behavior. this is why i, in behalf of fellow filipinos, would like to thank you, ppmi leaders as well as pesonet and instapay payment service providers, for extending the ( 2 clicks ) waiver of fees. your altruism has helped break a major barrier for the first - time users of e - payment services. the realized savings from the waiver of fees matter to millions of filipinos, especially the underprivileged. the ppmi ’ s partnership with the bsp also brought into fruition an important payment facility for government institutions — the egov pay. over the past nine - months, the number of government billers enrolled in this facility rose 1 / 3 bis central bankers'speeches exponentially from just two when it went live in november 2019 to 277 as of june 2020. i would also like to thank the landbank of the philippines for hosting the linkbiz portal through which the egov pay can be conveniently accessed by users. another laudable accomplishment where the ppmi served as bsp ’ s indispensable partner was the adoption of the national qr code standard or “ qr ph ” via instapay. your efforts to make the qr ph for person - to - person or p2p payments available shortly after we have conceptualized having interoperable qrs must be commended. with the help of ppmi, we have likewise persuaded other government regulatory bodies to promote our automated clearing houses. i would like to specifically mention that the department of labor and employment has already issued labor advisory no. 26 series of 2020, encouraging employers to pay wages and other monetary benefits through transactions accounts maintained with pesonet - participating banks and e - money issuers. indeed, this is the beginning of a growing appreciation among the government agencies of the benefits of digital payments. of course, i will not miss to stress how our pesonet ach has come to aid in ensuring that the vulnerable sectors efficiently and safely received the government ’ s financial assistance during the lockdown. in particular, the pesonet was used by the development bank of the philippines to distribute the sss small business wage subsidy ( sbw s ) to 3. 4 million employees who were affected by the lockdown. in recognition of the critical role of the ppmi in achieving our vision of having a safe and efficient payment system, the bsp formally accredited the ppmi as a payment system