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PESONet
PESONet, introduced by the Philippine Payments Management Company (PPMC) as part of the National Retail Payment System (NRPS) initiative, allows individuals and businesses to transfer funds for various purposes, such as paying bills, purchasing goods, or sending money to others.
Method
PESONet
LPM Market Share
n/a
Payments
No
Refunds
Yes - full and partial refunds (automated)
Type
Bank Transfer
Local Card Scheme
Users
n/a
Disbursements
Yes
Yes
Chargebacks
No
Authorization currency
PHP
Authorization
speed
speed
Instant
Recurring
No
No
Reasons for Popularity
PESONet connects around 120 participating banks and financial institutions, providing users with broad access to different financial services
Users can initiate transactions through various channels, including online banking and mobile apps
In 2023 there were 91 million transactions through PESONet
