MAS & BSP: Pursue Cross-border Payment Linkages
- MAS is at the forefront of Singapore’s rapidly growing financial industry, creating new policies and initiatives that address
- BSP is the central bank and monetary authority of the Republic of the Philippines
- Signed an enhanced FinTech CA to facilitate interoperable payments between Singapore and the Philippines
- The enhanced CA builds on the earlier 2017 agreement to broaden the scope of FinTech collaboration
- The CA will facilitate the linkage of both countries’ real-time and QR payment systems
- collaboration in payment infrastructure projects aligns with the G20’s efforts to address existing frictions in global cross-border payments
