BSP creates Payments and Currency Management Sector, appoints new DG By JON VIKTOR D. CABUENAS, GMA News Published February 24, 2021 4:07pm The Bangko Sentral ng Pilipinas (BSP) on Wednesday announced the creation of a new department that will manage the interplay of physical currency and digital money, in line with efforts to shift to a cash-lite economy. In a virtual briefing, BSP Governor Benjamin Diokno said the Payments and Currency Management Sector (PCMS) will handle the licensing and supervision of payment system operations and the formulation of strategies and policies for currency and payments system including the digital payments transformation. The PCMS also handles the Philippine Payment and Settlement System and the administration of the digital Personal Equity Retirement Account (PERA), the voluntary retirement saving program that supplements retirement benefits from the Social Security System (SSS), the Government Service Insurance System (GSIS), and employers.