(Manila Standard) To ensure the prompt delivery of future government financial assistance programs, Senator Win Gatchalian has broached the idea of having each Filipino owning one bank account.
“Now we already have the national ID. I want to file a bill related to the national ID, which I will call “One Filipino, One Bank Account,” Gatchalian said.
He said it should be mandatory for the government to give everybody in the country a bank account. It is important we use technology.
During this pandemic, he said, the government should just remit the financial help to the bank account.
“Even the people dispensing the cash might get infected with COVID-19. Who will then dispense the money?” Gatchalian said.
The Vice chairman of the Senate Committee on Banks, Financial Institutions and Currencies says owning a bank account should be considered a basic requirement among Filipinos regardless of the individual’s socio-economic class.
And with over 74 million Filipinos already using smartphones as of 2019, Gatchalian said, contactless and cashless payments could be made possible through the use of their mobile phone units as digital wallets.
Through the use of software applications installed in smartphones, payments could be made through scanning or card readers…. Read More
