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National Retail Payment System and the Philippine E-Commerce Roadmap


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Brief document about the National Retail Payment System (NRPS) as presented during the Philippines E-Commerce Roadmap launch last February 2, 2016. The NRPS is a policy and regulatory framework that aims to establish a safe, efficient, reliable and affordable retail payment system in the Philippines.

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National Retail Payment System and the Philippine E-Commerce Roadmap

  1. 1. Na#onal  Retail  Payment  System   and  the  Philippine  E-­‐Commerce  Roadmap   Philippine  E-­‐Commerce  Roadmap  Launch   02  February  2016  
  2. 2.   NRPS  is  a  policy  and  regulatory   framework  that  aims  to  establish  a  safe,   efficient,  reliable  and  affordable  retail   payment  system  in  the  Philippines   What  is  NRPS?  
  3. 3. Retail  payments  are  payments  that  meet  at  least  one   (1)  of  the  following:   a.  Not  directly  related  to  a  financial  market  transac#on;   b.  SeBlement  is  not  #me-­‐cri#cal;   c.  The  payer,  the  payee  or  both  are  individuals  or  non-­‐ financial  organiza#ons;  and/or   d.  The  payer,  the  payee  or  both  are  not  direct  par#cipants  in   the  payment  system  that  is  processing  the  payment.1     1/  World  Bank,  October  2012   Retail  Payments  -­‐  DefiniFon  
  4. 4. NRPS  –  ObjecFves   • Enable  effec#ve  and  efficient  interface  and   interoperability  using  shared  and  resilient   infrastructure   • Foster  innova#on  and  new  business  models   • Promote  fair  access  and  compe##on  amongst   par#cipants   • Facilitate  the  provision  of  a  wide  range  of  electronically   accessible  payment  products  and  services   • Availability  of  relevant  informa#on  on  retail  payment   system  to  stakeholders  
  5. 5. Cost  Savings       25-­‐56%  of  invoice   processing  per  annum      $272  million  or  8.5%  of   net  profit  aTer  tax  of   banking  sector  in  2013   $1.52  per  payment  –   switch  from  check  to   direct  credit   Reduced  cash  handling   cost   Increased  Economic   AcFviFes     Faster  payment   turnover  leads  to  higher   economic  acFviFes   Country  with  high  level   of  electronic  payment   transacFons  per  capita  =   high  level  of  per  capita   income   Bigger  Market     98%  of  unbanked   Filipinos  can  be   banked  through   electronic  channels   Cross  selling   opportuniFes   ANew  Business   Models   Bank  and  Non-­‐bank   partnerships   Government  and   Private  partnerships   Industry-­‐wide   collaboraFon   Benefits  of  NRPS    Reduced  Risks                        Enhanced  Risk  Management          EffecFve  and  efficient  retail  payment  system      
  6. 6. Current  E-­‐Payment  System  
  7. 7. NaFonal  Retail  Payment  System  (NRPS)   Clearing   Operator   Client’s Transaction Account Merchant’s Transaction Account 24/7 Near real- time SETTLEMENT  
  8. 8. Cost  savings   Increased  efficiencies   Convenient  and  easy   Fast  and  secure   Ra#onaliza#on  of  resources   Cash  flow  advantages   Less  expensive  alterna#ve   Benefits  of  Electronic  Funds  Transfer  (EFT)  
  9. 9. Real-­‐Time  Low  Value  Push  Payments  
  10. 10. Q  &  A