Landbank, BOC streamline payment system

MANILA, Philippines — The Bureau of Customs (BOC) and the Land Bank of the Philippines (Landbank) have teamed up to facilitate a digital payment scheme for various customs processes.

In a statement, BOC said it inked a memorandum of agreement with Landbank for the use of the latter’s Link.BizPortal for the digital payment of miscellaneous fees.

Landbank’s Link.BizPortal is an electronic payment facility that allows clients to pay for products and services via the internet from both the government and the private sector.

The agreement is part of BOC’s overall thrust toward modernization and digital transformation in Customs processes.

Customs Commissioner Bienvenido Rubio said the utilization of a digital payment system would further enhance operational efficiency, reduce bureaucratic red tape and improve overall service delivery.

By leveraging the capabilities of the Link.BizPortal, the BOC aims to streamline payment processes, minimize delays and provide a more convenient and user-friendly experience for stakeholders.

“We are not only facilitating smoother transactions, but also fostering greater transparency and accountability,” Rubio said.

Among the portal’s salient functions include the ability to handle small and large-value payments and allow real-time debit from payor’s account and batch credit to merchant’s account.

Likewise, it generates and issues online payment confirmation via email and other functionalities that will improve the transaction experience of stakeholders.

The Link.BizPortal aims to reduce the direct and indirect costs associated with physical cash or distribution of in-kind goods, as well as establish the tracking of financial flows, resulting in less corruption and theft.

It also targets to de-clog lobby traffic and save on operation costs.