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Manila Bulletin devider Philippines devider National devider Going cashless: 4Ps beneficiaries may soon get their cash grants via e-wallet

Going cashless: 4Ps beneficiaries may soon get their cash grants via e-wallet

Published Mar 1, 2024 07:43 am

The Department of Social Welfare and Development (DSWD) announced on Friday, March 1 that beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) are now being transferred to electronic wallets (e-wallets), which can be used for cash transfers, bills payment, and food purchases.

“The wave of the future is cashless transactions. This is an upgrade from the 4Ps beneficiaries basic deposit accounts from the current automated teller machine (ATM) cards to electronic or digital wallets such as GCash and PayMaya,” DSWD Assistant Secretary for Strategic Communications and spokesperson Romel Lopez said in a statement.

He pointed out that e-wallets are especially beneficial to 4Ps beneficiaries living in geographically isolated and disadvantaged areas (GIDA) because they no longer need to travel to automatic teller machines, which are often hours away.

“For GIDA beneficiaries, going to the nearest ATM is costly and hard. E-wallets like GCash that have thousands of merchant partners serve as an easier way to get their regular cash grants,” Lopez explained.

The 4Ps National Program Office has conducted a simultaneous pilot implementation of its Digital Financial Literacy Program in five regions across the country—Northern Mindanao (Region 10), Eastern Visayas (Region 8), Bicol (Region 5), Western Visayas (Region 6), and Caraga Region—in accordance with the DSWD’s planned migration to e-wallets.

The simultaneous digital financial literacy seminars on Feb. 24, 27, and 29 were open to at least 50 beneficiaries in each of the pilot areas—Cagayan de Oro City; Guiuan, Eastern Samar; Bulan, Sorsogon; Iloilo City; and Esperanza, Agusan del Sur.

The various digital financial services that the 4Ps beneficiaries can use to save money effectively were discussed by resource speakers from Landbank of the Philippines, Bank of the Philippine Islands Foundation, and mobile banking apps, GCash and PayMaya.

“Since 2019, the DSWD has been embarking on financial inclusion initiatives to ensure that all 4Ps beneficiaries have fully functioning transaction accounts that they can utilize to help them save money and empower them to become more financially independent,” Lopez said.

He added that the initiative aims to assist 4Ps beneficiaries in gaining access to a variety of financial opportunities that will help them achieve economic sustainability.

“With the pilot implementation of the Digital Financial Literacy Program in the Family Development Sessions of 4Ps household-beneficiaries, we are further capacitating them about the basics of financial literacy such as mobile banking, budget and savings, and consumer protection, among others,” he said.

Related Tags

electronic wallet DSWD 4Ps beneficiaries Pantawid Pamilyang Pilipino Program
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