MANILA – Taxpayers will soon be able to settle taxes electronically, as the government plans to roll out a digital financial platform for such transaction.
“The government is also ready to run PHPAY, which is a digital payment gateway that will enable taxpayers and other state clients to remit fees and other charges electronically,” the Department of Finance (DOF) said.
The PHPAY system will be designed to ensure secure and reliable collections system which allows clients to transfer payments online regardless of time and place, the department said in a statement.
With more details on the platform yet to be released, Finance Secretary Carlos Dominguez III said it “will dramatically cut transaction costs across the board” and “cut corruption associated with primitive payments systems.”
The Bangko Sentral ng Pilipinas earlier said it wants to digitize 20 percent of all payment transactions in the country by 2020 under the National Retail Payment System. (GMA News)
