We are creating some awesome events for you. Kindly bear with us.
Land Bank of the Philippines
Mr Liduvino S. Geron, Executive Vice President – Branch Banking Sector
OpenGov is recognising the Land Bank of the Philippines (LBP) for the launch of a cashless payment facility for government fees. The first Inclusive Banking Center (IBC), housed at the Land Transportation Franchising and Regulatory Board’s (LTFRB) head office in Quezon City, has two point-of-sale terminals, an automated teller machine and a cash deposit machine.
IBC is an interconnected and interoperable facility with Point-of-Sale (POS) terminals linked to the agency’s cashiering system to enable payment of government fees through any bank’s ATM or debit cards. Client-payors who do not have ATM cards for use in paying thru the POS terminal will be provided with pre-generated ATM cards. The facility also houses ATM machines and a Cash Deposit Machine for real-time deposits to the pre-generated ATM cards.
The establishment of the IBC helps to streamline its processes for the ease and convenience of its payor-clients. Also, part of the agreement is the establishment of a safe, efficient, and reliable electronic retail payment system that aims to replace existing cash transactions susceptible to graft and corruption. This mode of payment enables the use of all bank cards for payment of fees, penalties, and franchises.