BSP: “Digital collection of payments will expedite transactions, generate savings for the government and the public, and reduce the risk of graft and corruption.” BSP — Here’s what the Bangko Sentral ng Pilipinas said after President Rodrigo Duterte issued an executive order allowing the adoption of digital payments for government collections and disbursements. On Tuesday, … Read more
Senator Bong Go: “We need e-governance to provide our people with the services they need from the comfort of their homes or workplaces.” BONG GO — On Wednesday, the senator urged Congress to pursue the immediate passage of the proposed e-Governance Act which seeks to promote the use of digital payments for government collections and … Read more
President Duterte allows digital payments for government disbursements and collections. PRESIDENT RODRIGO DUTERTE — On Monday, the President allowed the adoption of digital payments for government disbursements and collections. This developed after the President issued Executive Order 170 which covers all departments, agencies, and instrumentalities of the government — including state universities and colleges, local … Read more
Digitalization was seen to ease inflation in the Philippines “in the long run”, according to BSP. BSP — On Tuesday, the Bangko Sentral ng Pilipinas said that digitalization was seen to ease inflation in the country “in the long run”. The central bank said that the wider adoption of digital payments in the Philippines was … Read more
The BIR was eyeing to increase digital payments by 50% in 2022. BIR — The Bureau of Internal Revenue was aiming to increase digital payment transactions to 50% in 2022 by accelerating modernization efforts. In a statement, the BIR said that it targeted to increase digital payment (ePayment) transactions by 50% in 2022 as modernization … Read more
The BSP will implement a two-year ban on all e-money applications. BSP — The Bangko Sentral ng Pilipinas will implement a two-year ban on all non-bank electronic money issuer (EMI) applications including those bank-owned EMIs starting December 16 in order to ensure a liquidity-strong digital payments sector. In a text message to Manila Bulletin last … Read more