The Philippine Statistics Authority (PSA) is pushing for the adoption of the National ID for identity verification in financial transactions, citing it as a more robust authentication method than traditional means.
“Adopting the National ID authentication services means moving past traditional methods of identity verification such as one-time passwords (OTPs) and shifting to something more reliable—the unique biometrics of an individual,” said PSA Undersecretary Claire Dennis Mapa, who is also the National Statistician and Civil Registrar General.
Mapa said the National ID’s authentication services, which include facial recognition and fingerprint scanning, offer enhanced security for both financial institutions and the public. This contrasts with OTPs, which are susceptible to phishing and SIM-swapping attacks.
The Bangko Sentral ng Pilipinas (BSP) also encouraged banks to integrate facial recognition and other National ID verification methods to bolster consumer protection and combat fraud, aligning with the Anti-Financial Account Scamming Act’s goal of a stable and efficient financial system.
HelloMoney, the mobile wallet service of Asia United Bank (AUB), has already implemented the National ID authentication services.
AUB chief compliance officer Claire dela Rosa said the integration has streamlined their customer due diligence process while speeding up client onboarding.
“The onboarding process [at HelloMoney] is all digital. The client can open an account using the app itself. However, we are required by BSP to do validation [or] customer due diligence,” dela Rosa said.
“With this e-verification [through] National ID, the verification process was reduced. This time around, they don’t need to verify the ID, because it’s already verified from the start,” said dela Rosa
From September 2024 to April 2025, HelloMoney onboarded 169,847 Filipinos whose identities were verified using the National ID authentication services.
GCash, another mobile wallet service, also uses the National ID for account opening and verification. Joanne Avendano, G-Xchange Inc. vice president for customer experience, described the National ID as a “reliable and trusted source of data.”
“The National ID has definitely helped GCash in streamlining its onboarding process and providing a reliable and trusted source of data,” Avendano said. About 56 percent of new GCash users have utilized the National ID for verification.
Assistant secretary Rosalinda Bautista, deputy national statistician of the PhilSys Registry Office, urged more financial institutions to work with the PSA.
“We call on all relying parties in the financial sector to maximize the authentication services of the National ID as it makes transactions more secure and ensures regulatory compliance,” Bautista said.
