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Manila Bulletin devider Philippines devider National devider 6 FSPs tapped for digital payment of SAP 2 subsidies got BSP's nod —DSWD chief

6 FSPs tapped for digital payment of SAP 2 subsidies got BSP's nod —DSWD chief

Published Jul 5, 2021 11:19 pm

All the six financial service providers (FSPs) that were tapped in 2020 to undertake digital electronic disbursement of second tranche of emergency cash subsidies under Social Amelioration Program (SAP) through restricted transactional accounts hurdled the Bangko Sentral ng PIlipinas’ (BSP) qualification requirements.

he Department of Social Welfare and Development (DSWD) conducts in June 2021 manual distribution of emergency cash subsidies under the national government’s Social Amelioration Program (SAP) to serve remaining unserved SAP 2 recipients and waitlisted beneficiaries. (Photo from DSWD Facebook Page)

This was stressed by DSWD Secretary Rolando Joselito D. Bautista in a Palace briefing on Monday, July 5, after Senator Manny Pacquiao bared the purported questionable cash releases of Starpay, one of the six FSPs tasked to carry out the digital payment of the SAP 2 cash aid.

“Ang lahat ng prospective FSPs kasama ang Starpay ay pinadalhan ng imbitasyon para makasali sa selection process. Sila din ay pinagsubmit ng proposal na kani-kanilang prinesenta sa isang pagpupulong kasama ang DSWD, DICT (Department of Information and Communications Technology), at Bangko Sentral. Mula sa kanilang presentasyon nagbigay ng rekomendasyon ang Bangko Sentral ng Pilipinas para mabuo ang terms of reference (All prospective FSPs, including Starpay were invited to participate in the selection process. They were asked to submit a proposal that they each presented in a meeting with the DSWD, DICT, and the Bangko Sentral. Based on their presentation, the Bangko Sentral ng Pilipinas gave a recommendation to develop the terms of reference),” he said.

Aside from Starpay, the five other FSPs — Robinsons Bank, Unionbank, RCBC, Gcash, and Paymaya— were also tapped for SAP 2 digital distribution.

“Anim na financial service providers ang napili, at sinabi nga namin sa simula ng proseso ng pagpili hanggang sa ongoing na implementasyon ng SAP 2 digital payment ay katuwang namin ang Bangko Sentral ng Pilipinas kaya ang profile ng mga financial service providers, I believe nakapasa sila sa criteria at qualification na naaayon sa guidelines ng Bangko Sentral ng Pilipinas (Six financial service providers were selected, and as we have said—from the start of the selection process until the ongoing implementation of SAP 2 digital payment, we partnered with the Bangko Sentral ng Pilipinas so the profile of financial service providers, I believe, they passed the criteria and qualification in accordance with the guidelines of the Bangko Sentral ng Pilipinas),” Bautista said.

He stressed that all funds provided to the FSPs were all accounted for and that there were no “missing” funds.

The DSWD chief said all disbursed aid is supported by liquidation reports that can be shared, if necessary.

He also reassured the public that the processes adopted by FSPs on payouts were in accordance with BSP-approved processes and existing government accounting rules and procedures.

Related stories: https://mb.com.ph/2021/07/03/willing-to-present-evidence-documents-dswd-ready-to-face-new-round-of-sap-probe/

https://mb.com.ph/2021/07/04/walang-nawawala-dswd-assures-sap-funds-all-accounted-for/

Related Tags

Department of Social Welfare and Development DSWD SECRETARY ROLANDO BAUTISTA Social Amelioration Program financial service providers sap Bangko Sentral ng Pilipinas
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