The Bangko Sentral ng Pilipinas (BSP) has issued landmark guidelines formalizing the use of electronic money in online transactions, reportedly the first of its kind of electronic innovation in the world. The new rules sets a maximum monthly load limit of P100,000 (or $2,068) on any e-money instrument such as cash cards, e-wallets and similar products. The Anti-money Laundering Law will also cover e-money transactions.
Source: Philstar
