The Central Bank of the Philippines and the World Bank used a high-level forum on government payments to press for faster digitalization of public sector disbursements and collections. The discussion centered on accelerating the shift away from cash in government transactions, with the central bank noting that person-to-government payments remain largely cash-based and that only 24.6 percent of those transactions by volume were digital in 2024. The forum brought together senior officials from national government agencies, local government units, partner institutions and the payments industry to discuss practical constraints and possible next steps. Inputs from the roundtables are intended to inform future Central Bank of the Philippines policies and identify areas for technical support from the World Bank and other partners. Participants also discussed Executive Order No. 170, which directs executive-branch agencies to adopt digital payments, and House Bill No. 8468, the eBayad Act, which would institutionalize digital payments for government transactions, recognize electronic official receipts and invoices as valid proof of payment, allow agencies to allocate funds for transaction fees, and establish a steering committee chaired by the Central Bank of the Philippines.
Central Bank of the Philippines2026-06-30
Central Bank of the Philippines and World Bank call for faster digitalization of government payments as only 24.6 percent of person-to-government transactions are digital
The Central Bank of the Philippines and the World Bank called for faster digitalization of government disbursements and collections at a forum focused on public sector payments. The central bank said person-to-government payments remain mostly cash-based, with only 24.6 percent of transactions by volume digital in 2024. Participants also reviewed Executive Order No. 170 and the proposed eBayad Act as frameworks to expand digital government payments.