Philippines

DTI, e-payment providers partner to ease biz registrations

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DTI, e-payment providers partner to ease biz registrations
By Ma. Cristina Arayata

MANILA (Philippines News Agency) — Now it‘s easier and more convenient for Filipinos to register and renew business names as the Department of Trade and Industry (DTI) partners with digital payment service providers.

“(Now), there is no need (for the entrepreneurs) to take a leave of absence, or to commute just to pay for business transactions,” said national treasurer Rosalia De Leon at the signing of memorandum of agreement among DTI, partners, Landbank and the Bureau of the Treasury on Friday.

The move, she said, is crucial as it reduces the risks related to cash transactions.

“For the longest time, the government has not adapted with the e-payments. We have long relied with cash payments,” said De Leon, adding that the government needs to keep abreast with financial technology to provide effective public service.

As such, the DTI has tapped e-payments service providers, PayMaya and GCash for the “BNRS Next Gen” (Business Name Registration System Next Generation), an online platform where the public could register or renew business names, wherever they are. This can be accessed at https://bnrs.dti.gov.ph/.

“They would no longer need to go to business centers. They could just use this platform,” the national treasurer said.

DTI Secretary Ramon Lopez noted that the agency is trying to convert everything to an e-payment scheme.

“This is aligned with President Duterte’s mandate on the ease of doing business. The advantage of e-payments is that it is stronger and a more stable system,” he said.

Landbank, which has an e-payment platform called “Link.BizPortal” that allows customers to pay products and services via the Internet, is also a partner in the BNRS.

Both representatives from PayMaya and GCash, meanwhile, expressed gladness to be a partner of the government. (PNA)

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