Visa Inc. is looking at increasing its presence in the Philippines’ unbanked sector by offering new and affordable means of cashless transactions, seen to boost the economy.
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).
People often give me puzzled looks when I try to describe my job here, and I don’t blame them. Since 2015 I have worked on an international development program that supports the Philippines’ shift from a cash-based economy to a cash-light economy, which will improve the livelihoods of Filipinos by getting more people involved in the formal economy.