Last January 29, 2024, the Bangko Sentral ng Pilipinas (BSP) issued an OPS certification for RePay Digital Solutions. 

OPS stands for Operator of Payment System, which covers platform providers, cash-in service providers and payment gateways. Under the 2018 National Payment Systems Act, the BSP was mandated to oversee all payment systems, amidst a growing rise in small businesses and startups seeking to push into digital banking. Companies that achieve their certification are thus referred to as Operator of Payment System. 

The Exciting Update Proves RePay's Commitment to Representing the Best of Property Technology

RePay Digital Solutions is one such payment gateway that is making waves in the Local and Global Filipino Market. Its application is filled with essential services covering investments, remittance, and documentation. It intends to be an important tool for helping the Philippines finally transition into a cashless economy while helping maintain Filipino businesses and households no matter the distance involved. 

The BSP has in recent years been supportive of the rise in digital payment technologies especially in regards to its efficient delivery for the unbanked, something which RePay, as a payment gateway, excels in. 

On February 6, 2024, the BSP pointed to their implementation of the 2020-2023 Digital Payments Transformation Roadmap for aiding developments in the digital payments sector. BSP Governor Mamerto Tangonan noted that digital retail payments now made up 42 percent of digital retail transactions, contrasting it from the initial 1 percent share in 2013. 

When asked, RePay Digital Solutions warmly greeted the news, stating that this was yet another milestone that helped solidify their commitment to help the average Filipino grow in their capacity for digital transactions. They also echoed the BSP’s predictions and highlighted the fact that digital transactions would likely grow in many other markets like the real estate industry.