Saturday, May 25, 2024

SEC adds GCash as payment option as online payments soar

The Securities and Exchange Commission (SEC) has added GCash for its online payment system to allow clients to settle registration and other transaction fees, as well as penalties, through the Electronic System for Payments to the SEC (eSPAYSEC).

The transacting public may access the eSPAYSEC through the agency’s website.

To use GCash for their payments, clients only need to enter the reference number provided in the Payment Assessment Form issued by the SEC, select GCash as their payment option, then provide the required information. Each transaction charges a minimal convenience fee of P10.

Other online payment channels that are accepted by eSPAYSEC include debit and credit cards powered by Visa, Mastercard and JCB, as well as PayMaya wallets.

“It has only been a year since we rolled out the eSPAYSEC, but it has already become a preferred payment option for the transacting public because of the convenience and security it offers,” SEC chairperson Emilio B. Aquino said in a statement.

“This is proof of the public’s readiness to adapt to digital solutions when they are available, and strengthens the Commission’s commitment to its digital transformation initiatives to improve the ease doing business for Filipinos.”

Launched in March 1, 2021, the eSPAYSECis a Web-based system that allows for the payment of fees and penalties to the commission online using debit and credit cards, digital wallets, and other cashless payment options.

The online payment portal has since accepted payments for fees and penalties amounting toP202.32 million from a total of 29,565 transactions, as of June 8, 2022. Of the total amount, P99.57 million was recorded in 2022, bound to surpass the P102.75 million collected online in 2021.

Meanwhile, the SEC continues to accept and process payments across its main and extension offices. The public may likewise pay registration and other transaction fees over the counter in select branches of Land Bank of the Philippines.


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