SEC says to only accept online, offsite payments starting February 2023 | ABS-CBN

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SEC says to only accept online, offsite payments starting February 2023

ABS-CBN News

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MANILA — The Securities and Exchange Commission on Wednesday said it would move payment channels to online and offsite starting February 2023.

All payments will be accepted only through Electronic System for Payments to the SEC (eSPAYSEC) at www.espaysec@sec.gov.ph, or at any branch of the Land Bank of the Philippines (LANDBANK) nationwide by February, the SEC said in a notice dated Dec. 14.

The cashier's office at the SEC headquarters in Makati City and at all SEC extension offices will be closed starting the said date, the agency said. Over-the-counter transactions at the commission will only be accepted until Jan. 31, 2023, it added.

“The shift to online and offsite payments furthers our unwavering commitment to ensuring the transparent and efficient management of our funds, as transaction fees and any other amounts that we collect will directly be deposited to and immediately be reflected on the Commission’s accounts,” SEC Chairperson Emilio Aquino said.

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“This also complements the transacting public’s pivot to cashless transactions, and the national government’s push for the digital transformation of public services to improve ease of doing business in the Philippines, as in the case of the SEC.”

SEC's eSPAYSEC is a web-based system that allows for the payment of fees and penalties to the commission online using debit and credit cards, digital wallets and other cashless options.

To pay, clients just need to enter the reference number in their Payment Assessment Form issued by the SEC, select a payment method and provide the needed information, it said. Official electronic receipts will be sent via email.

The government has been pushing for the digitalization of processes, including payments, to streamline service delivery.

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