Bangko Sentral to probe complaint on e-wallet Starpay: Diokno

ABS-CBN News

Posted at Oct 18 2021 02:39 PM

MANILA - The Bangko Sentral ng Pilipinas will look into the complaint by lawmakers against e-wallet Starpay Corp, BSP Gov. Benjamin Diokno said Monday.

Lawmakers have questioned why the Department of Social Welfare and Development chose Starpay to electronically distribute aid to thousands of recipients of the Social Amelioration Program. 

"We will look into it and we will look at the complaint because it is now in the public eye," Diokno said in an interview with ANC's Market Edge.

Sen. Manny Pacquiao earlier also alleged that out of the 1.8 million SAP beneficiaries, only 500,000 were able to successfully use the Starpay app. 

On Google's Play Store, the Starpay app is shown to have 500k+ downloads.

Bayan Muna Rep. Carlos Zarate said Starpay did not have the capacity to implement SAP and had to return P8 billion in undistributed funds to the government. 

Starpay is an electronic money issuer registered with the BSP, but it was the DSWD that chose the firm for the SAP distribution, Diokno clarified. 

The central bank chief meanwhile dispelled allegations that Starpay had only P62,000 in capital, saying the company has complied with the P100 million minimum capital required for an electronic money issuer. 

ABS-CBN has reached out to Starpay for comments but has yet to receive a response as of this posting.