SEC expands payment channels

MANILA, Philippines — The Securities and Exchange Commission (SEC) has expanded its payment options beyond the state-run Land Bank of the Philippines.

It now has over 90,000 new online and offline payment options for the transacting public in settling the various fees with the SEC.

These include fees for articles of partnership, articles of incorporation, annual fee for financing/lending companies, exchanges, registration as investment company, application for accreditation, general certifications, and certification on corporate filing made through the SEC Electronic System for Payment to SEC (eSPAYSEC).

The system utilizes MyEG’s online payment network, which includes e-wallets such as GCash, Maya, GrabPay and ShopeePay, credit/debit cards, as well as online bank transfers from BDO, BPI, RCBC, UnionBank, Maybank and Metrobank.

The Bureau of the Treasury (BTr) lauded these efforts, saying these have made payments easier and more convenient for the public.

The SEC partnered with MyEG Philippines Inc., an e-payment processing provider for the use of both its online and over-the-counter payment network, which the public can now use in making payments to the SEC.

“The Bureau of the Treasury has long advocated the use of digital technologies to improve the operations of the national government, particularly the collections of government revenues,” deputy treasurer Eduardo Anthony Mariño III said.

“With 90,000 additional payment channels, we are pleased to see that the SEC remains committed to this administration’s goal of embracing digital transformation,” he added.

Aside from digital payments, the public may also settle payments to the SEC through MyEG’s over-the-counter payment centers located in convenience stores, malls, pawnshops, and other establishments across the country, such as 7-Eleven, Cebuana Lhuillier, Palawan Pawnshop, Tambunting Pawnshop, Bayad Center, The SM Stores, Robinsons Department Stores, DA5, Posible, Pay&Go, USSC and more.

“As we expand the payment options available on the SEC eSPAYSEC, we hope to encourage more businesses and stakeholders to do their transactions online as it is easier, safer, and more convenient,” SEC chairperson Emilio Aquino said.

MyEG Philippines CEO Ann Margaret Saldaña said they support the government in improving the ease of doing business, may it be with the company’s automation expertise or payment gateway channels.

“We are delighted to extend all our more than 90,000 channels to the SEC so corporations can have more options to pay their SEC fees online or payment centers near their homes or offices,” she said.

The SEC shifted its payment channels online and offsite on Feb. 1, in line with its zero face-to-face transaction policy.

Accordingly, all payments to the SEC have since been accepted only through the eSPAYSEC and at any branch of Landbank.