How BPI is Embracing The Shift Towards a “Cash Lite” Economy

How BPI is Embracing The Shift Towards a “Cash Lite” Economy

Making the push for electronic transactions, one step at a time

If you are not aware, BPI has been updating its services. From implementing a new website to rolling out a revamped, more streamlined mobile app, BPI acknowledges that digital is the way to go when it comes to transactions.

“Many of our clients have come to embrace technology because of the convenience, safety, and reliability it offers,” BPI President and CEO Cezar P. Consing said.

These recent moves by BPI are part of its support to BSP’s National Retail Payment System (NRPS), a system that contains policies and standards for a smooth, worry-free “cash-lite” economy. Benefits of a “cash-lite” economy include bigger savings and better banking accessibility to SMEs and to remote areas where there are no banks.

“This long-term digitalization journey will enhance our extensive network of ATMs, CAMs (Cash Acceptance Machines), online facility, and mobile app, to enable us to offer convenient, self-service banking,” Consing said.

In addition to introducing a new website and mobile app, BPI is one of the many banks that made the shift to EMV Debit cards, which are more secure than traditional ATM/Debit cards.

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