GOVERNMENT AGENCIES may be given six months to less than three years to transition to digital disbursement and collection, according to the draft rules on the government’s adoption of digital payments. READ
The Finance department, along with other government agencies, drafted the implementing rules and regulations of Executive Order No. 170, which mandates the adoption of digital payments for government disbursements and collections.
Under the draft rules, all covered agencies will have to fully implement digital disbursements within six months of the e“For the implementation of digital collections, a tiered transition period not exceeding three years shall apply,” the rules stated.
The payments digitalization team of the covered agencies will be required to submit a transition plan that includes timelines to fully implement digital payments, strategies for capacity development, and key performance indicators and targets.
The TWG will determine which agencies are capable of adopting digital payments within a shorter or longer period. “The transition plan will be used as part of the basis for monitoring compliance of the Covered Agencies. Whenever necessary, the TWG may recommend adjustments in the transition plan in line with the requirements and objectives of EO No. 170,” the draft rules stated.nancial ecosystem.In May, then-President Rodrigo R. Duterte signed the EO No.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gov’t told to talk to local gov’ts on cash aid after weekend chaos - BusinessWorld OnlineThe Philippine government should coordinate with local authorities after chaos marred its aid payout to poor students, experts said at the weekend, amid spiraling oil and food prices. READ:
Read more »
vivo brings vivo Y02s, a powerful smartphone with a slimmer body, to the Philippines - BusinessWorld Onlinevivo officially unveiled yet again a powerful and affordable smartphone that is sure to deliver Filipinos plenty of time to enjoy uninterrupted hours of contact and entertainment with friends and loved ones. An upgrade from the vivo Y01, the vivo Y02s now comes in a very thin 8.19-mm body — vivo’s thinnest design in this […]
Read more »
Pandemic pushes 2.3 million Filipinos into poverty in 2021 - BusinessWorld OnlineICYMI: Around 2.3 million Filipinos have been plunged into poverty between 2018 and 2021, as the coronavirus pandemic left lasting scars on the Philippine economy, according to the Philippine Statistics Authority (PSA). Read:
Read more »
‘Nowhere to hide’ if war comes to Taiwan’s front-line islands - BusinessWorld OnlineNANGAN/DONGYIN, Taiwan — On Taiwan’s windswept Matsu islands, close to China’s coast, one topic has been driving conversations in recent days: prospects of an invasion by China since it began military exercises in response to visits to Taiwan by US lawmakers.
Read more »
Philippines eyes ‘world-class’ top-security prison - BusinessWorld OnlineTHE PHILIPPINE Department of Justice (DoJ) on Wednesday said it is considering building a modern maximum-security prison for heinous crime convicts in a country known for having the world’s most crowded jails. READ
Read more »
Hacker tournament brings together world’s best in Las Vegas - BusinessWorld OnlineLAS VEGAS — A team of hackers from two US universities won the “Capture the Flag” championship, a contest seen as the “Olympics of hacking,” which draws together some of the world’s best in the field. In the carpeted ballroom of one of the largest casinos in Las Vegas, the few dozen hackers competing in […]
Read more »