LTFRB, Land Bank launch cashless payment to remove fixers


Posted at May 08 2017 03:02 PM

MANILA - Transport franchise holders will soon be able to pay fees and fines through ATM or debit cards. 

Land Bank and the Land Transportation Franchising and Regulatory Board (LTFRB) launched a cashless payment system and 'inclusive banking center' on Monday that aims to make transactions faster and weed out corruption.

Land Bank president Alex Buenaventura said the cashless payment system will eliminate LTFRB 'fixers' or unauthorized people who promise to 'fix' s person's papers in exchange for money. 

In the new system, people who need to pay LTFRB fees or fines will need a Land Bank ATM or debit card. People can apply for these cards at the inclusive banking center.

Land Bank and LTFRB will test the new payment system for three months in the agency's main office before rolling it out in provincial offices. 

Buenaventura said they are also looking to roll out the new payment system in other government offices like the Land Transportation Office, Philhealth and the Government Service Insurance System.