The Ministry of Social Services and Development (MSSD) is conducting the Knowledge Sharing Session with Experts and Technical Workshop on the Adoption of Digital Payments, which is currently ongoing today until 24 September 2022 in Metro Manila.
This activity is under the Financial Assistance System Transformation (FAST) Project, which primarily aims to accelerate the distribution of MSSD’s financial assistance through the adoption of digital payment systems.
Representatives from the Bangko Sentral ng Pilipinas (BSP), the Department of Budget and Management (DBM), and the Commission on Audit (COA) shared the regulatory requirements for adopting digital payment system. The Department of Social Welfare and Development (DSWD) is also present in the workshop.
Partners from the Bangsamoro Planning Development Authority (BPDA), Ministry of Finance, Budget and Management (MFBM), the Bangsamoro Information and Communication Technology Office (BICTO), the Ministry of Transportation and Communications (MOTC), and the MSSD Provincial Social Welfare Officers discussed the prospects and challenges of digital payment system in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
Other ministries, offices, and agencies of the BARMM, particularly the agencies that are implementing financial assistance programs, are also present. These include representatives from the Ministries of Labor and Employment (MOLE); Agriculture, Fisheries and Agrarian Reform (MAFAR), Trade, Investments, and Tourism (MTIT).
Representatives from authorized government depository banks (AGDBs), and other financial service providers (FSPs) shall discuss their available services in the BARMM.
MSSD targets to pilot various modes of digital payments in several areas in the Bangsamoro Region within the year to establish proofs of concept for expansion. This shall serve as a pillar for enhancing MSSD’s good fiscal management policy.
The FAST Project is managed by MSSD’s Finance Management Support Services division with the support of Unicef and the Department of Foreign Affairs and Trade of the Australian Government.