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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