BancNet has been 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 40 participating government agencies. With this new system, filing and payment are totally paperless and processing time becomes faster. Payment can be made through BancNet’s secured payment gateway that allows businessmen to pay from the comfort of their homes or offices.
The National Telecommunications Commission (NTC) was the first government agency to implement the Philippine National Single Window. According to Deputy Commissioner Delilah Deles, “the electronic payment scheme will reduce processing time from a week to just an hour up to a day” for licensing transactions.
The Sugar Regulatory Administration (SRA) also recently launched its e-Payment and e-Permit processes under the PNSW. These aim to facilitate faster and cheaper transactions for the importation and exportation of sugar and sugar-based products. Exporters and importers can submit documents and pay the processing fees online.
BancNet President Robert P.Blas said, “We are happy to be a part of this important project that will be the electronic backbone of our country’s nationwide trade facilitation. We are optimistic that once fully implemented by the target government agencies, this project will greatly contribute to more efficient and transparent operations in our government.”
BancNet, the largest electronic banking consortium in the country, is already the payment gateway for taxes due to the Bureau of Internal Revenue (BIR) and for SSS members’ contributions and loan repayments. It is the only electronic banking consortium accredited as such.
(from left) Department of Finance undersecretary for Revenue Operations Group, Carlo A. Carag, Bureau of Treasury deputy national treasurer Gisela F. Lood, Land Bank of the Philippines president and chief executive officer Gilda E. Pico, BancNet chairman Ricardo R. Chua and Bureau of Customs deputy commissioner for XOCG Prudencio M. Reyes, Jr. signing the PNSW partnership agreement.
