[Philippine Central Bank Plans to Suspend New Payment System Operator Registrations for One Year] According to a report by Mobile Payment Network, a draft circular reveals that the Bangko Sentral ng Pilipinas (BSP) plans to suspend the registration, licensing, and related authorization applications for new Payment System Operators (OPS) for one year. OPS refers to entities operating payment and fund transfer-related arrangements in the Philippines. BSP explicitly stated that the suspension is intended to facilitate a comprehensive review of the classification and licensing framework for OPS. The draft proposes the establishment of a central database for merchants accepting QR code payments and aims to strengthen intermediary controls between financial institutions and merchants. The database will consolidate information on merchants accepting payments through the national QR code standard, including merchant identity, business registration and licensing details, payment service providers, settlement accounts, ownership, and risk classification. It will also indicate the merchant's status as active, restricted, suspended, or terminated.