More Filipinos are choosing to pay their dues online, leading to a massive increase in the overall transaction volume of EGov Pay to 467%, a shift from 16,000 a year before to more than 91,000 by the end of 2021, according to the Bangko Sentral ng Pilipinas (BSP).
BSP Governor Benjamin E. Diokno claims that the trend is a reflection of consumers’ changing preference “towards greater adoption of digital payments,” despite mobility restrictions already lifted.
Implemented in November 2019 as a way for consumers to settle payments to government institutions, EGov Pay sees common usage in paying government clearances as well as taxes.
Effectively, it makes the Philippine National Police and the Bureau of Internal Revenue the two agencies that drive much of the payment transactions.
Since the rollout, some 484 billers, as of April, have already been enrolled in the system.
Source: Business World