{"id":127594,"date":"2017-10-31T00:19:20","date_gmt":"2017-10-31T04:19:20","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=127594"},"modified":"2025-01-18T12:19:57","modified_gmt":"2025-01-18T17:19:57","slug":"espenilla-backs-liberalization-of-ph-telco-industry","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/10\/31\/espenilla-backs-liberalization-of-ph-telco-industry\/","title":{"rendered":"Espenilla backs liberalization of PH telco industry"},"content":{"rendered":"
\"Bangko<\/a>
Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. is open to any initiative that will liberalize the domestic telecommunication sector to further improve delivery of financial services in the country. (Photo By Bangko Sentral ng Pilipinas, CC BY-SA 4.0<\/a>)<\/figcaption><\/figure>\n

MANILA – – Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. is open to any initiative that will liberalize the domestic telecommunication sector to further improve delivery of financial services in the country.<\/p>\n

He sees \u201ca lot of value\u201d in opening up the telco industry to more players, from the current two, namely, Smart Communications and Globe Telecom.<\/p>\n

\u201cIt is a main point for our approach of promoting digital delivery of financial services because of infrastructural issues,\u201d he said.<\/p>\n

The central bank has several programs that promote the use of technology to further improve the banking industry.<\/p>\n

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<\/p>\n

Among them is the National Retail Payment System (NRPS), which is aimed to fast track growth of electronic payment system in the country from the current one percent to around 20 percent of total payments by 2020.<\/p>\n

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<\/p>\n

BSP is set to launch this November the first clearing house under NRPS, specifically the batch electronic fund transfer (EFT) called PESO Net, eyed to allow the transfer of value from one bank account or electronic account to another.<\/p>\n

Espenilla said opening up the telco services to more players will provide more competition and will result to better service delivery \u201cwhich will benefit the whole financial system.<\/p>\n

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\u201d<\/p>\n

\u201cThe trust issue is partly founded on the matter of reliability of services. So even though there is capability, if it cannot be depended upon, then people will hesitate to move to a different way of doing financial services,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA – – Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. is open to any initiative that will liberalize …<\/p>\n","protected":false},"author":33,"featured_media":127595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[1216,30529,18851,30530],"class_list":["post-127594","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bangko-sentral-ng-pilipinas","tag-liberalization","tag-nestor-espenilla-jr","tag-ph-telco-industry","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/127594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=127594"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/127594\/revisions"}],"predecessor-version":[{"id":285417,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/127594\/revisions\/285417"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/127595"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=127594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=127594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=127594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}