MANILA–State-run Land Bank of the Philippines teamed up with the Bureau of the Treasury and the Department of Information and Communications Technology to develop a single platform for all government payments.
National Treasurer Rosalia de Leon, DICT Undersecretary David Almirol Jr. and LandBank president and chief executive Lynette Ortiz signed a memorandum of agreement for the electronic Government Payment Platform.
The eGovPay platform introduces a secure and centralized gateway that simplifies payment acceptance for government agencies. The platform is designed to enhance the government’s data management and reporting capabilities, slash costs tied to manual operations and streamline the reconciliation process.
Under the partnership, LandBank assumes the role of depository and financial settlement bank for eGovPay.
The DICT will act as user and application administrator to onboard payment service providers and government institutions to the eGovPay and ensure the smooth integration of different payment channels to the systems of LandBank.
Meanwhile, the BTr will be responsible for ensuring full compliance of LandBank and DICT-covered agencies to the Treasury Single Account Framework, particularly on the collection and remittance of internal revenue taxes, custom duties and other national collections.
Ortiz said the initiative laid the foundations for a centralized digital payment gateway.
“We are set to revolutionize how the whole government handles payments, and more importantly, provide convenience to fellow Filipinos than ever before,” Ortiz said.
The tripartite collaboration follows the development agenda of President Ferdinand Marcos Jr. to prioritize digitalization and promote digital payment solutions for the efficient delivery of public service.
The eGovPay will also support the adoption of digital payments for government disbursement and collections under Executive Order No. 170 and Republic Act No. 11032 which promotes the ease of doing business and efficient delivery of government services.
The initiative also complements LandBank’s own phygital (physical plus digital) strategy towards improving access to reliable, relevant and convenient financial services by continuously expanding touchpoints nationwide while developing more responsive digital channels.