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Digitalization 'kept economic gears running' in 2020, says BSP chief Diokno

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MANILA - Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Friday digitalization has been instrumental in keeping the economy afloat while the country was in lockdown due to the coronavirus pa

ndemic last year.

Meanwhile, the use of InstaPay, or the real-time transfer of funds up to P50,000, reached 86.7 million transactions, up 459 percent year-on-year, he said. Coin demand also fell 57 percent in volume and 67 percent in value compared to 2019, the official said.

 

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