National Payment Systems Act of 2020
Republic Act (RA) No. 11127 or the National Payment Systems Act of 2020 was enacted in view of the State’s objectives to promote, through the Bangko Sentral ng Pilipinas (BSP), the safe, secured, efficient and reliable operation of payment systems in order to control systemic risk and provide an environment conducive to the sustainable growth of the economy. According to the BSP, RA No. 11127, or the National Payment Systems Act (NPSA), provides a comprehensive legal and regulatory framework which supports the aforesaid objectives of the State.