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Manila Bulletin devider Business devider SEC won't accept payments onsite by Feb.

SEC won't accept payments onsite by Feb.

Published Dec 21, 2022 01:31 pm

The Securities and Exchange Commission (SEC) is accepting payments purely online and offsite starting Feb. 1 next year as it continues to implement a zero face-to-face transaction policy.

In a notice, the Commission announced that all payments will be accepted only through the Electronic System for Payments to the SEC (eSPAYSEC) at [email protected], or at any branch of the Land Bank of the Philippines (LANDBANK) nationwide, starting Feb. 1, 2023.

Accordingly, the Cashier’s Office located at the SEC Headquarters in Makati City and at all SEC Extension Offices will be closed by then. The Commission will only accept over-the-counter transactions until Jan. 31, 2023.

The shift to online payments is in line with the zero-contact policy and automation of business-related transactions mandated by Republic Act No. 11032, or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.

Launched on March 1, 2021, the eSPAYSEC is 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.

To proceed, clients only need to enter the reference number provided in the Payment Assessment Form issued by the SEC, select a payment option, then provide the required information.

Once the payment goes through, the system will generate an electronic official receipt, which clients will likewise receive through email.

The public may pay through the eSPAYSEC using debit and credit cards powered by Visa, Mastercard and JCB, as well as digital wallets GCash and Maya, for a minimal convenience fee.

The SEC also recently signed a deal with LANDBANK that will allow payments for SEC-related transactions to be made through its Online Collection facility in all 609 branches nationwide.

“The shift to online and offsite payments furthers our unwavering commitment to ensuring the transparent and efficient management of our funds, as transaction fees and any other amounts that we collect will directly be deposited to and immediately be reflected on the Commission’s accounts,” SEC Chairperson Emilio B. Aquino said.

“This also complements the transacting public’s pivot to cashless transactions, and the national government’s push for the digital transformation of public services to improve ease of doing business in the Philippines, as in the case of the SEC.”

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