MANILA: 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. The company can now directly settle with the Bangko Sentral ng Pilipinas’ (BSP) real-time gross payment system, PhilPaSS Plus¹.
According to BERNAMA News Agency, Wise has spent the last 14 years developing an alternative to traditional correspondent banking. The company holds over 65 licenses globally and now boasts six direct connections to domestic payment systems. This expanded infrastructure allows over 63%² of all Wise transactions to be completed instantly, in less than 20 seconds, with an average fee of 0.62%.