The Philippine Securities Settlement Corp. (PSSC), the payment and settlement and currency transfer services arm of the PDS Group, was incorporated in 2004.
PSSC operates the domestic transfer systems for two foreign currencies: US Dollar, through the Philippine Domestic Dollar Transfer System (PDDTS), and Chinese Yuan, through the Renminbi Transfer System (RTS).
Both transfer systems handle real-time electronic transfers of USD and RMB. Our partnership with USD and RMB settlement banks allows our participants to send and receive both USD and RMB payments and transfers within the Philippines and with other global payment systems.
It also operates Payment vs. Payment (PvP) for interbank USD-PHP transactions with the dollar leg settling through PDDTS and the peso leg settling through BSP PhilPaSS, the central bank’s own RTGS payment system.
PSSC’s settlement highways are uniquely customized to cater to the Philippine market.