LAND BANK of the Philippines (LANDBANK) said it has entered into a partnership with the Department of Information and Communications Technology (DICT) and the Bureau of the Treasury (BTr) to further develop the electronic Government Payment (eGovPay) platform.
LANDBANK will be the depository and financial settlement bank for eGovPay, the bank said in a statement on Wednesday.
The DICT will be the user and application administrator to onboard Payment Service Providers and government institutions planning to enroll in eGovPay.
The BTr will ensure the compliance of LANDBANK and DICT-covered agencies with the Treasury Single Account Framework.
The parties signed a memorandum of agreement on Aug. 15, with National Treasurer Rosalia V. De Leon, Information and Communications Technology Undersecretary David L. Almirol, Jr., and LANDBANK President and Chief Executive Officer Lynette V. Ortiz representing their respective organizations.
eGovPay simplifies payment acceptance for government agencies, enhances the government’s data management and reporting processes, reduces manual operations, and improves the reconciliation process.
President Ferdinand R. Marcos, Jr. is pushing government agencies to digitize public services.
“eGovPay will also support the Adoption of Digital Payments for Government Disbursement and Collections pursuant to Executive Order (EO) No. 170, and Republic Act No. 11032 which promotes the Ease of Doing Business and Efficient Delivery of Government Services,” LANDBANK said. — Aaron Michael C. Sy