What is the difference between QR PH and InstaPay QR code?

QR Ph is the national standard for QR code payments in the Philippines, mandated by the Bangko Sentral ng Pilipinas (BSP). The InstaPay QR code is currently the primary application of the QR Ph standard for person-to-person (P2P) fund transfers. In essence, InstaPay uses the QR Ph standard to facilitate seamless digital fund transfers between individual end-users across participating financial institutions.