As preparations continue for the rollout of the Philippine Identification System (PhilSys), Senator Grace Poe urged the concerned agencies to use the platform to expand financial inclusion in the country.
“In addition to identifying the legally invisible, we can use the national ID to reach out to the unbanked,” said Poe, who chairs the Senate committee on banks, financial institutions and currencies.
A survey by the Bangko Sentral ng Pilipinas found that 51.2 million Filipinos, or 45 percent of the adult population, do not have bank accounts and lack access to financial services offered by formal banking institutions.
“The PhilID card can be connected to a mobile payment platform.”
According to the veteran legislator, the PhilID card can be connected to a mobile payment platform where individuals can pay bills, access government services, and receive emergency subsidies.
“Mababawasan ang pila sa mga tanggapan kung magkakaroon ng ‘Pasa Loan’ o ‘Pasa Ayuda’ gamit ang national ID,” the seasoned lawmaker said.
Currently, the IDs of students in the University of the Philippines also doubles as a cash card that could be used to receive stipends and pay for meals and school fees.
The lady lawmaker noted that these initiatives could be adopted at scale with the rollout of the national ID where the Department of Social Welfare and Development has also used cash cards as a mode for distributing aid during the pandemic.
“We should leverage the national ID as a way to promote social and financial inclusion.”
“We should leverage the national ID not only for distributing aid, but also as a way to promote social and financial inclusion,” she stressed.
Section 3 of Republic Act No. 11055 or the “Philippine Identification System Act” provides that the PhilSys shall be a social and economic platform where all transactions including public and private services can be availed of and serve as the link in the promotion of seamless service delivery, enhancing administrative governance, reducing corruption, strengthening financial inclusion, and promoting ease of doing business.