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Is PayMongo regulated by BSP?
Is PayMongo regulated by BSP?
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Written by Steven
Updated over a week ago

Yes! PayMongo is listed in BSP's official list of registered operators of payment systems (OPS) under the Republic Act No. 11127, or the National Payment Systems Act (NPSA).

What is the National Payment Systems Act?

Republic Act No. 11127, or the National Payment Systems Act (NPSA), provides a comprehensive legal and regulatory framework which supports the twin objectives of maintaining a payment system that is necessary to control systemic risk and providing an environment conducive to the sustainable growth of the economy.

A payment system provides the channels through which funds are transferred among banks and other institutions to discharge payment obligations arising from economic and financial transactions across the entire economy. An efficient, secure and reliable payment system reduces the cost of exchanging goods and services. It is an essential tool for the effective implementation of monetary policy, and the smooth functioning of money and capital markets.

To learn more about the NPSA you could click the button below:

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