BTr lauds SEC's convenient payment options
By JAMES A. LOYOLA
The Bureau of the Treasury (BTr) lauded the efforts of the Securities and Exchange Commission (SEC) in making payments easier and more convenient for the public after the commission launched over 90,000 new online and offline payment options.
The SEC has partnered with e-payment processing provider MyEG Philippines, Inc. for the use of both its online and over-the-counter payment network, which the public can now use in making payments to the commission.
“The Bureau of the Treasury has long advocated the use of digital technologies to improve the operations of the National Government, particularly the collections of government revenues,” BTr Deputy Treasury Eduardo Anthony G. Mariño III.
He added that, “We have seen that SEC has been a pioneer in leveraging the use of electronic platforms to collect its fees and charges… With 90,000 additional payment channels, we are pleased to see that SEC remains committed in this administration’s goal of embracing digital transformation.”
The public can now settle registration and other transaction fees through the SEC Electronic System for Payment to SEC (eSPAYSEC) using MyEG’s online payment network, which includes e-wallets such as GCash, Maya, GrabPay, and ShopeePay, credit/debit cards, as well as online bank transfers from BDO, BPI, RCBC, UnionBank, Maybank, and Metrobank, among others.
These includes fees for their articles of partnership, articles of incorporation, annual fee for financing/lending companies, exchanges, registration as investment company, application for accreditation, general certifications, and certification on corporate filing or information.
The public may also settle payments to the SEC through MyEG’s over-the-counter payment centers located in convenience stores, malls, pawnshops, and other establishments across the country such as 7-Eleven, Cebuana Lhuillier, Palawan Pawnshop, Tambunting Pawnshop, Bayad Center, The SM Stores, Robinsons Department Stores, DA5, Posible, Pay&Go, USSC, and more.
"As we expand the payment options available on the SEC eSPAYSEC, we hope to encourage more businesses and stakeholders to do their transactions online as it is easier, safer and more convenient,” SEC Chairperson Emilio B. Aquino said.
He added that, “This is just among the many initiatives under the Commission’s ongoing digital transformation aimed further improving the ease of doing business in the country.”
MyEG Philippines CEO Ann Margaret Saldaña said: "MyEG’s goal and mission has always been to support the government in the ease of doing business, may it be with our automation expertise or our payment gateway channels.
“We are delighted to extend all our more than 90,000 channels to the SEC so corporations can have more options to pay their SEC fees online or payment centers near their homes or offices.”
“Now that we have activated MYEG on the SEC payment portal, businesses can just log in online from the eSPAYSEC and pay through all our payment channels. It will be easier, faster, safer and more convenient way with numerous payment options.”
The transacting public may access eSPAYSEC at https://espaysec.sec.gov.ph/. To proceed, clients only need to enter the reference number provided in the Payment Assessment Form issued by the SEC, select their preferred payment option, and pay.
To ensure payments made through the eSPAYSEC are secure, clients will receive a one-time pin in the mobile phone numbers linked to their bank accounts or digital wallets.
Once payment goes through, the system will generate an electronic official receipt, which clients will likewise receive through email.
The SEC shifted its payment channels online and offsite on February 1, in line with its zero face-to-face transaction policy. Accordingly, all payments to the Commission have since been accepted only through the eSPAYSEC and at any branch of the Land Bank of the Philippines nationwide.