Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Thursday transactions using EGov Pay, an e-payment facility for taxes, permits, fees and other government obligations, jumped by over 5,000 percent in volume and almost 2,000 percent in value as of end-May.
“Aside from curbing revenue leaks, fostering better audit trail and enhancing transparency, the wider usage of EGov Pay is seen to promote efficiency in the country’s revenue generation efforts under the New Economy,” Diokno said in an online briefing.
EGov Pay transactions also increased by an average of 98 percent in volume and 126 percent in value from the first quarter of 2020 to the first quarter of 2021. Payment of fees related to securing clearances
and taxes drive most of the utilization of this facility.
The BSP said that from only two government institutions when the facility was launched in 2019, EGov Pay now has 387 government billers. This translates into 90 percent of total government billers scheduled to be captured in 2021.