MANILA, Philippines - The Bureau of the Treasury (BTr) has tapped the Land Bank of the Philippines (Landbank) as the payment consolidator and settle bank for collections through the so-called National Single Window (NSW).
The NSW is an Internet-based platform that is seen to improve trade by allowing single submission of applications for licenses, permits and other papers required to transact with government.
It aims to put in place a single interface that will link traders with concerned government agencies.
The Bureau of Customs, the government’s second largest revenue agency, has been pushing for the implementation of the NSW to improve trade.
Landbank recently signed the agreement with the Treasury and BancNet Inc.
Landbank president and CEO Gilda Pico said the agreement would pave the way for faster trade processes in the country.
“This next step enables the electronic payment of export-import clearances and trade related services through the BancNet Internet Payment Gateway. It will further speed up trade transactions and save clients from the need to run to and from different agencies for their payments,” Pico said.
Landbank is now an institutional member of the BancNet ATM Network, the largest inter-bank network in the country connecting more than 6,000 ATMs of 91 member banks, the bank said in its statement.
BancNet, meanwhile, operates the Internet Payment Gateway connected to the NSW portal.
According to the Philippine NSW website, the Phase One preparations involve the setup and installation of network interconnections for all 40 government agencies. It also involves the installation of a VOIP or Voice Over Internet Protocol system and email for all 40 agencies.
“Implementation will be undertaken of selective systems: Nomination of license, permit, or clearance in each of the 10 agencies; Orientation and user training for the nominated personnel from the 10 agencies and selected broker and traders,” it said.
The platform would help curb the problem of smuggling, which has resulted in annual revenue losses of P60 billion for the government. The NSW would prepare the country for a possible regional single window by 2015, Customs Commissioner Ruffy Biazon said.
The implementation of the NSW is part of efforts to improve the business environment and governance in the country, he said.
It is also in line with the thrust of the Association of Southeast Asian Nations (ASEAN) to establish the ASEAN Single Window, aimed to facilitate trade efficiencies between member countries.