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Electronic payment transactions made through the EGov Pay of the National Retail Payment System of Bangko Sentral ng Pilipinas (BSP) soared from June. In a recent speech, BSP Governor Benjamin Diokno said EGov Pay was launched in November last year “to serve as a payment solution for streamlining and digitizing government charges and disbursements.” He also said that “EGov Pay is planned to stem the leakage of government revenue through efficient means of collection and greater transparency. In terms of disbursements, the mechanism can accelerate the early delivery of social services to stakeholders. ”Since its launch, EGov Pay’s transaction volume increased by 688 percent from 162 to 1,277 in June. 799 percent to P12.84 million from P1.429 million in the same period last year. The Internal Revenue Office has been the highest billing, followed by the Philippine National Police, the Office of Environmental Management and the Administration Welfare of Workers Abroad, according to the head of the central bank.
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