Your money is valuable -- so you want to make sure that every time you send it, you do so through a safe, efficient, reliable, and affordable payment channel. To address this, Bangko Sentral ng Pilipinas (BSP) launched InstaPay and PESONet under their policy and regulatory framework the National Retail Payment System (NRPS).
While both services seem similar at first glance, there are key differences to take note of when choosing between PESONet VS InstaPay:
What is PESONet?
PESONet is lets you seamlessly and securely transfer funds in Philippine Peso to e-Wallets, banks, and other money-issuers.
With PESONet, you can do as many transactions per day with daily transaction limits that vary depending on the bank or e-wallet. In most cases, there are amount limits to how much you can transfer in a singular transaction for mobile fund transfers.
Related: What is PESONet?
If you need to send money over that limit, you can always go to your local bank to transfer funds over-the-counter or apply for higher limits with your provider. While PESONet itself does not have a declared maximum amount limit for transactions, your local bank may have preset limits, especially for mobile transfers.
Online services are of course available 24/7 and processing can be same-day if you make the fund transfer by the cut-off (varies per bank or e-wallet). Otherwise, your transaction will be queued for next day processing.
- PESONet PRO: Great for bulk and high volume transactions
- PESONet CON: Not for time-sensitive transactions
Send money from your Coins.ph Wallet for free via PESONet! After entering the amount, just select PESONet for Delivery Time, enter the receiver’s bank details, and slide to pay!
What is InstaPay?
InstaPay is also a BSP-regulated payment channel that helps you safely and seamlessly transfer funds to e-Wallets, banks, and other mobile money operators.
Just like with PESONet, you can do as many transactions per day. However, unlike PESONet, InstaPay only allows for transactions up to PHP50,000 per account, per transaction, and per day. This means that should you need to transfer more than that amount, you may need to wait until the next day or choose another method.
Related: What is InstaPay and How Do I Use It?
Online services are also 24/7 and payment processing and credit to the payee is in real-time, no matter what time of the day you make your transactions.
- InstaPay PRO: Real-time transactions
- InstaPay CON: Only available for low-value payments.
Send money from your Coins.ph Wallet for free via InstaPay! After entering the amount, just select PESONet for Delivery Time, enter the receiver’s bank details, and slide to pay.
