Globally, governments are responding to rapid growth of more digitized economies and the immense benefits this may produce for government units, private sector entities, and the wider public.
As governments are significant generators of payments, there is a great potential to adopt e-Payments for cash transactions and social benefits, such as payroll and social welfare.By adopting electronic payments and transforming societies into more cash-lite economies, governments can create avenues for increased financial inclusion, access, cost-savings, speed and security, transparency, accountability, and efficiency in the flow of financial transactions. This in turn, will benefit all government units, private sector partners, and consumers participating in formal financial systems.
This site will showcase resources and current initiatives of the Government of the Philippines, both on the national and local levels, on electronic payments. It is hoped that ePayPilipinas will help to rally the e-Payment community to better support Philippine national government associations’ (NGAs) and local government units’ (LGUs) leadership in promoting e-Payments as a vehicle for expanding financial inclusion.
Paving the groundwork, the BangkoSentral ng Pilipinas (BSP)’s National Strategy for Financial Inclusion and National Retail Payment System capitalize on global trends focusing heavily on ensuring that Filipinos have access to regulated, secure, usable, and efficient electronic transaction accounts, to better cultivate financial inclusion for all Filipinos.