BSP Circular 1223 Mandate: Future-Proofing Payments with ISO 20022 Adoption
In late 2025, the Bangko Sentral ng Pilipinas issued Circular No. 1223, mandating the adoption of ISO 20022 for all retail payment systems in the Philippines. The circular amends the Manual of Regulations for Payment Systems and establishes ISO 20022 as the default financial messaging framework nationwide. To drive industry-wide alignment, BSP is forming an ISO […]