Regulatory Alerts2026-06-17
Frequently Asked Questions on Amendments to the National Retail Payment System Framework and Merchant Payment Acceptance Activities
The Bangko Sentral ng Pilipinas issued FAQs to clarify Circular No. 1238, which amends the National Retail Payment System Framework and the regulatory framework for merchant payment acceptance activities. The guidance mandates that supervised institutions anchor person-to-person electronic fund transfer fees on documented, verifiable cost structures while permitting segment-based pricing that avoids cross-subsidization. Additionally, the document aligns merchant due diligence requirements with existing anti-money laundering regulations, allowing for risk-based onboarding procedures for low-risk merchants.
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