LAND BANK of the Philippines (LANDBANK) said it onboarded 72 local government units (LGUs) to its Link.BizPortal payment platform in the first quarter (Q1) of the year.
Onboarded LGUs include Nueva Vizcaya, Marinduque, Guimaras, San Carlos in Pangasinan, Bacolod, Tanjay, Guihulngan, Sagay, Pagadian, Kidapawan City, and 62 other municipalities nationwide, the state-run lender said in a statement on Wednesday.
“LANDBANK is supporting local government partners to leverage on technology and deliver convenient and responsive public services. We are also encouraging customers to adopt digital payments towards building a cash-lite society,” LANDBANK President and Chief Executive Officer Cecilia C. Borromeo said.
The lender said that Link.BizPortal allows customers to pay their local government fees, dues, and charges online.
LANDBANK said that it has onboarded a total of 100 new partners for its payment portal this year, including state universities and colleges, National Government agencies, water districts, and private merchants.
The online payment system has facilitated close to 2.2 million transactions in the first quarter, up 58% year on year, the lender said.
It added that it is aiming to onboard more than 1,603 government and private merchants by yearend.
LANDBANK said that its digital transformation is in support of Executive Order 170 or the Adoption of Digital Payments for Government Disbursement and Collections.
The central bank wants 50% of total retail transactions done digitally and to bring at least 70% of Filipino adults into the financial system by this year under its Digital Payments Transformation Roadmap. — Aaron Michael C. Sy