February 23, 2024

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Business Names registration made easier by MOA with e-Payment platforms

The Philippines’ Department of Trade and Industry (DTI) had announced that there is no more need for sole proprietors, who wish to apply or renew their Business Names, to go to DTI offices to register.

Instead, they can just transact online by following three simple steps: Apply, Pay, Download.

According to a recent press release, DTI Secretary Ramon Lopez signed three Memoranda of Agreement (MOAs) with e-Payment platforms.

This will provide a suite of online payment options for the convenience of the transacting public.

The Department, together with the Bureau of Treasury and the Land Bank of the Philippines, has organised a ceremonial signing that will provide the public a variety of online payment options for DTI’s Business Name Registration System Next Generation (BNRS Next Gen).

Benefits of the agreement

This initiative will make long queues as well as inefficient and slow services in the government a thing of the past.

The agreement with the e-Payment platforms completes the Business Name Registration system.

They can now provide citizens with the convenience of having to transact with the Department via their mobile phones in the comfort of their homes, or wherever they are, 24/7.

Furthermore, this initiative is in compliance with Republic Act (RA) No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.

Section 9(e) of RA 11032 provides “That all government agencies shall develop electronic versions of licenses, clearances, permits, certifications or authorizations with the same level of authority as that of the signed hard copy, which may be printed by the applicants or requesting parties in the convenience of their offices.”

Automation is key to good governance. Through automation, the Department can provide easier, faster, and better service.

The Agreement and those involved

The MOA signing with the various e-Payment providers signals the scaling up of DTI’s online Business Name Registration service.

It is designed to deliver a more pleasant user experience, characterised by convenience, transparency, and seamlessness.

One of the e-Payments facilities offers integrated consumer and merchant payment solutions.

Millions of Filipinos can avail of the e-wallet that allows cashless transactions at any time of the day, anywhere in the world, and from any device.

Merchants, meanwhile, can accept all payment options thanks to the company’s universal payments platform. These options include credit, debit, prepaid cards and mobile wallets.

The second e-Payments facility provides customers several services. These are:

  1. Purchase prepaid airtime easily
  2. Pay bills at over 400 partner billers nationwide
  3. Send and receive money anywhere in the Philippines
  4. Pay using QR codes at over 60,000 partner merchants
  5. Invest money at money market funds through the convenience of their smartphones

The third is an e-Payment facility of the Land Bank of the Philippines, a government financial institution that strikes a balance in fulfilling its social mandate of promoting countryside development while remaining financially viable.

This facility allows clients to pay for products and services via the Internet.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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