The Bangko Sentral ng Pilipinas (BSP) and the World Bank (WB) are accelerating efforts to shift government payments and collections to digital platforms, aiming to improve service efficiency and financial inclusion. The call came during the forum “Payments for the People,” held in Makati City on May 13, 2026, and attended by government agencies, local government units, and industry partners.
BSP data shows only 24.6 percent of person-to-government transactions were digital in 2024, with most still relying on cash. Officials emphasized that greater adoption would cut long queues, reduce lost work time, and ensure timely delivery of benefits and payments. The initiative aligns with Executive Order No. 170 and House Bill No. 8468 or the eBayad Act, which has passed its third reading in the House. The bill seeks to formalize digital payments, recognize electronic receipts, and create a BSP-led oversight body.
The World Bank noted that digital transactions improve public trust and accessibility. Inputs from the forum will guide future policies, with technical support available from the WB and other partners. This effort also supports the Philippine Development Plan’s goals of expanding financial inclusion and making government services more transparent and citizen-focused.
