It is now mandatory for banks, financial institutions and their clients to employ so-called multifactor authentication systems when transacting online as countermeasure in a feared surge of cyber attacks in the country.
The Bangko Sentral ng Pilipinas (BSP) is set to require banks operating in the country to beef up their authentication requirements as part of the all out campaign against cyber crime.
THE Online Payment System for real property taxes in the Zamboanga City Government was formally launched on Tuesday, March 28.
Under the strong sponsorship of the BSP, the various industry players – both Banks and non-bank Electronic Money Issuers (EMIs) signed off on Friday, 31 March 2017 on the Charter of the Payment System Management Body (PSMB). Industry players also expressed their commitment to form within 2017 two priority Automated Clearing Houses (ACHs): the Batch Electronic Fund Transfer (EFT) Credit ACH to be called “PESO Net” and the Real Time Low Value Push ACH to be called “InstaPay.”
Taxpayers in Cagayan de Oro City can now pay property taxes and other government fees online by accessing the online tax billing and payment system on the city government’s official website (www.cagayandeoro.gov.ph).