November 12, 2025 | 12:00am
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is pushing for greater regional economic integration through enhanced digital payment connectivity, emphasizing its role in driving financial inclusion, efficiency and resilience across Asian economies.
BSP Governor Eli Remolona Jr. highlighted the transformative potential of digital payment systems during the 61st South East Asian Central Banks (SEACEN) Governors’ Conference held in Bali, Indonesia from Oct. 28 to 29.
“Digital payments connectivity is not merely a technological advancement but a strategic enabler of economic efficiency, financial inclusion and systemic resilience,” Remolona said.
“It lays the foundation for deeper trade, investment, financial and capital market integration across economies,” he said in his remarks at the panel session titled Empowering Economic Integration through Digital Payment Connectivity.
The session, which he chaired, was part of the broader conference theme “Asian Financial Integration to Navigate Geoeconomic Shifts: Unlocking Growth and Innovation.”
Experts from the region discussed the opportunities and challenges of linking payment systems across borders to support economic growth.
The discussion concluded with a joint call to promote interoperability and standardization of payment systems to ensure seamless cross-border transactions across the region.
The discussions came as the Philippine central bank tackled uncertainties amid a wave of monetary easing and a soft domestic growth outlook.
The BSP delivered a 25-basis-point cut in October, bringing the total rate cuts to 175 basis points since it began its easing cycle in August 2024. This was to support the country’s gross domestic product, which was at just four percent in the third quarter while inflation remained below-target at 1.7 percent in October.
Remolona also took part in the 45th SEACEN Board of Governors’ Meeting, where members approved the 2026 work plan and budget, as well as discussed the ongoing formulation of SEACEN’s strategic business plan for 2026 to 2030.
SEACEN is composed of 19 member central banks from across the region, with its research and training initiatives managed by the SEACEN Research and Training Center in Kuala Lumpur, Malaysia.
