The Philippines reaffirmed its global leadership in promoting inclusive and interoperable digital finance systems during the World Trade Organization (WTO) thematic session on “Facilitating Digital Payment Systems and Remittance Services,” held in Geneva from September 29 to October 1, 2025.
The session, co-led by the Philippines, China, and other developing nations, brought together WTO Members, international organizations, and private sector leaders to explore how trade disciplines can support financial inclusion, enhance cross-border payment interoperability, and reduce remittance costs.
Representing the private sector, Lito Villanueva, Founding Chairman of FinTech Alliance PH and Executive Vice President & Chief Innovation and Inclusion Officer of RCBC, presented the Philippine experience in building a robust digital payments ecosystem.
“Technology only matters if it empowers people, and empowerment only endures when built on trust,” Villanueva said.
He cited the Bangko Sentral ng Pilipinas Digital Payments Transformation Roadmap (2020–2023) and Open Finance Framework (2021) as key to achieving the “80 by 80 Vision” — targeting 80% of adults with digital accounts and 80% of retail transactions digitalized by 2028.
Villanueva also highlighted RCBC’s partnerships with the Commission on Filipinos Overseas and the Department of Migrant Workers to promote financial literacy and widen access to affordable remittance channels for overseas Filipinos.
The Philippines’ active role in the ASEAN Regional Payment Connectivity initiative and rollout of the QR PH standard, now being linked with other ASEAN QR systems, was cited as a model for regional payment interoperability that benefits small businesses and consumers.
Minister and Deputy Permanent Representative Gabriel R. Bautista said the WTO’s work can complement national reforms, noting, “Openness, interoperability, and proportionate regulation are the building blocks of financial inclusion. By sharing the Philippine model, we help ensure trade disciplines deliver real outcomes — lowering remittance costs and empowering digital entrepreneurs.”
The Philippine Mission vowed to continue advancing a development-oriented agenda on digital payments and financial inclusion, in line with its ASEAN Chairship priorities in 2026.