The Philippine Statistics Authority (PSA) has welcomed the Bangko Sentral ng Pilipinas (BSP) directive mandating the acceptance of the digital national ID and the utilization of national ID authentication services in financial transactions.

PSA Undersecretary Claire Dennis S. Mapa said the central bank’s order aligns with their public advisory issued on June 11 informing the public, as well as government and private institutions, about the digital national ID and national ID authentication services.

Under the central bank's Memorandum No. 2024-026, all BSP-Supervised Financial Institutions (BSFIs) are mandated to recognize and accept all formats of the national ID, including the digital national ID, as an official government-issued identification document. 

Mapa said these IDs are deemed valid and primary proof of identity, subject to authentication. Furthermore, BSFIs are instructed to include the National ID and its recognized formats in their respective lists of acceptable valid IDs.

The Digital National ID, a collaboration between the PSA and the Department of Information and Communications Technology (DICT), has been introduced as a digital rendition of the National ID.

It is readily accessible for download or the eGov application using internet-connected computers or smartphones, and can be presented as a valid proof of identification and age in both government and private transactions.

For verification purposes, BSFIs are obligated to utilize the National ID Check to ensure the genuineness of the various formats of the national ID, including the digital national ID. 

Additionally, BSFIs are encouraged to integrate with the National ID System through National ID eVerify. 

This platform streamlines the onboarding process for relying parties like financial institutions, enabling a fully online application process that includes document submission.

Notably, this platform incorporates a secure and efficient identity verification method, leveraging advanced facial recognition technology for real-time matching of an individual’s face with the National ID registry.

“BSP has been a supportive partner to the rollout of the National ID system right from the start. This issuance is a testament of our commitment to our shared goal of accelerating financial inclusion in the country,” said Mapa, who is also the National Statistician and Civil Registrar General.

“With the acceptance of the Digital National ID in BFSIs, we envision that more registered persons will have access to financial services,” he added.

Mapa also called on financial institutions to integrate with the National ID system.  

“We continue to urge our relying parties in the financial sector to honor the Digital National ID, which is a reliable proof of identity that can easily be authenticated for more secure transactions,” Mapa said.