The Philippine government is exploring the adoption of India’s Unified Payments Interface (UPI) technology to accelerate government aid distribution and reduce the cost of digital transactions.
The Landbank Visa Government Purchase Card allows agencies to set credit limits, restrict transactions to approved merchant categories, and monitor purchases digitally. It is intended for low-value procurement, official travel and recurring expenses, among other expenditures permitted under government rules.
Under a memorandum of understanding signed Monday, July 20, the two agencies will identify financing use cases, conduct pilot implementations, and collect operational feedback to improve the DICT’s MSME AI Tech Stack.
State-run Land Bank of the Philippines said it is waiving InstaPay and PesoNet transfer fees for retail clients starting July 7, allowing customers to send money for free through the Landbank Mobile Banking App and iAccess.
The Professional Regulation Commission (PRC) has signed a four-party agreement with MYEG Philippines, the Bureau of the Treasury (BTr), and the Land Bank of the Philippines to expand digital payment options for PRC transactions.
Government-run Landbank has reduced its InstaPay transfer fee for person-to-person transactions from P15 to P8 as it pushes to make digital banking services cheaper and more accessible to Filipinos.
Landbank serves as the sole acquiring bank and transit payment gateway integrator, processing EMV card payments to ensure the direct settlement of fares into the DOTr’s account.
The newly launched Automated Fare Collection System (AFCS) enables contactless payment options, including Visa and Mastercard debit and credit cards, and QR payments via GCash using NFC-enabled Android smartphones.
