MANILA, Philippines - The government launched an electronic payment facility that allows agencies to complete online purchases for supplies procured through the Philippine Government Electronic Procurement System (PhilGEPS) Virtual Store.
Budget Secretary Florencio B. Abad said the new system will create a more efficient procurement system and boost transparency. The e-payment facility is done in partnership with Landbank of the Philippines.
"This is a groundbreaking feat for the Philippine bureaucracy, especially in view of the wide-ranging reforms that the Aquino administration has successfully instituted over the last two years. The establishment of the e-Payment system effectively brings us to the realm of cashless transactions, where procurement activities can be tracked and accounted very quickly and accurately," Abad said in a statement.
The PhilGEPS ePayment facility allows agencies to pay for items procured through the Virtual Store any time. Transactions made via the e-Payment facility can also be monitored and tracked through Landbank's WebAccess portal.
"The development of this online payment facility is particularly important for liquidating expenses that are charged against public funds. Because every step of the process can now be tracked and monitored, we can begin to close off all avenues for irregularity and, ultimately, establish better accountability across government," he said.
Abad said PhilGEPS is also developing a system that will allow bidders to make electronic payments for membership fees and other charges.
With the PHILGEPS e-payment facility, he said Landbank can now offer similar e-payment services for other government services, such as license applications with the Land Transportation Office and clearance applications with the National Bureau of Investigation.