Wise Granted Direct Access To Philippines' Instant Payments Infrastructure, Gets Settlement Account With BSP

MANILA, Philippines, Nov 5 (Bernama) -- Wise, the global technology company building the best way to move and manage the world’s money has been granted direct access to InstaPay, the Philippines’ real-time payment system, and can also directly settle with the Bangko Sentral ng Pilipinas’ (BSP) real-time gross payment system, PhilPaSS Plus¹.

Wise has spent the last 14 years building an alternative to traditional correspondent banking. With over 65 licenses globally and now six direct connections to domestic payment systems, this infrastructure enables over 63%² of all Wise transactions to be completed instantly (under 20 seconds), with an average fee of 0.62%.