BSP Governor Eli Remolona Jr., according to Zawya, emphasized the importance of the MORPS as a strategic framework ready to support payment system reforms in compliance with international standards and best practices. This program is a critical step toward opening up regulatory rules and aims to simplify the numerous policies that the central bank has previously published.

Offering a comprehensive overview on the rules governing the National Payment System (NPS), the MORPS is an invaluable resource for both the general public and NPS members.

This covers the obligations that participants have with regard to services, procedures, and duties. The BSP's payment-related rules and directives, which are based on laws such the New Central Bank Act and the NPS Act, are summarized in the manual. To keep the MORPS up to date and complete, the BSP intends to update it once a year to include any new revisions and upgrades.

Governor Remolona emphasized the MORPS's responsibility for enticing payment system operators (OPS) to adhere to guidelines meant to improve the security, effectiveness, and dependability of the country's payment system. Its importance, however, goes beyond OPS, as it is a useful resource for people, organizations, and agencies involved in the payment ecosystem. Along with organizing already-existing legislation, the MORPS adds additional sections on retail payment systems, governance, licensing, settlement procedures, and regulatory frameworks, as well as an enforcement structure to manage compliance.

In particular, the enforcement framework emphasizes the significance of following laws for the stability and integrity of the Philippine payment systems by consolidating earlier BSP issuances. The NPS Act and the New Central Bank Act specify that members who violate these provisions will be subject to enforcement and supervision measures.

The BSP's all-encompassing strategy highlights its dedication to developing a strong and inclusive financial ecosystem, promoting the expansion of digital payments, and guaranteeing a safe financial environment for Filipinos.