The system is meant to collect, transmit and remit Customs fees, charges, duties and taxes. BoC and PayMaya, along with the Bureau of the Treasury (BTr) and the Development Bank of the Philippines (DBP), inked a memorandum of agreement allowing the use PayMaya’s digital services for both local and cross-border payments.
The partners said the services include online checkout using credit or debit cards and payment of bills via PayMaya’s application, One POS terminal, QR (quick response) code and Smart Padala Centers bills payment. BoC said the partnership also covers the payment of client service fees and the deposit of the collected fees and other payments to the DBP. All collections and payments made in and deposited by PayMaya will be remitted to a BTr-BoC-PayMaya clearing account.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now