BancNet has tied up with the Department of Trade and Industry for the implementation of a new Internet-based business name registration system called Enhanced Business Name Registration System (EBNRS). BancNet will serve as the payment gateway while state-owned Development Bank of the Philippines (DBP) will be the depository of the registration fees.
EBNRS is designed to make business name registration convenient for the country’s small and medium enterprises. With the new process, a single proprietor will not have to go physically to a DTI office to register a business name and pay the pertinent fees. He also does not have to go to his bank to withdraw cash as his payment will simply be debited from his bank account. Registration and payment will be faster and easier, made in the comfort of the entrepreneur’s place of business or anywhere he has Internet access. Data to be submitted through the website have also been reduced.
For the public dealing with business establishments, EBNRS provides protection by disclosing the identity and citizenship of the business owner. It also prevents a business establishment from using a name confusingly similar to the name of another registered business establishment.
BancNet is the country’s largest electronic banking network, composed of 110 members nationwide. It is also the payment gateway for SSS, BIR, Philhealth, and Pag-ibig Fund, the only electronic banking consortium accredited as such.
Recently, BancNet was also chosen as the payment gateway for the Philippine National Single Window (PNSW), the government’s newly launched electronic trading platform. The PNSW aims to facilitate the online filing and payment of trade-related permits, licenses and certifications for participating government agencies, initially, the National Telecommunications Commission (NTC) and the Sugar Regulatory Administration (SRA).
Standing: (From left) DTI director Maria Lourdes Yaptinchay, Philippine Business Registry program director Ernani Dionisio, DBP chairman Jose Nunez, DTI Secretary Gregory Domingo, DBP executive vice president Antonio Robles and senior vice president Ma. Theresa Jesudason
Seated: ( From left) BancNet executive vice president and chief operating officer Aristeo Zafra, Jr., DTI Undersecretary Zenaida Maglaya, DBP president Gil Buenaventura and BancNet president Roberto Blas
