Cashless payment at City Hall soon

CEBU, Philippines — In an effort to promote cashless transactions, the Cebu City Government signed a Memorandum of Agreement (MOA) with fintech firm C PASS Inc. on Monday, April 7, 2025, to establish a digital public payment system.

Following the signing, Cebu City Mayor Raymond Alvin Garcia described the initiative as part of the city's innovation strategy to enhance its financial system through technology.

He emphasized that the shift to cashless methods at City Hall—including electronic payments and digital currency options—is a major priority.

"We have to look into that kay mao naman na ang future," Garcia said.

The MOA builds upon a Memorandum of Understanding (MOU) signed in 2021. The agreement follows three years of collaborative research, system evaluation, and policy coordination between Cebu City and C PASS Inc.

The partnership aims to digitize key local tax payments, such as real property and business taxes, using C PASS’s stablecoin platform. The goal is to offer the public more convenient and accessible payment options.

Under the agreement, a digital public payment system will be developed, leveraging blockchain and stablecoin technology.

C PASS CEO Jaeyoung Kim joined city officials during the MOA signing.

"This partnership is not just a pilot—it marks a real move into implementation. Together with Cebu City, we aim to build a leading model for digital governance in Asia," Kim said.

Pilot operations are expected to begin soon, with a full citywide rollout planned in the near future. Once implemented, C PASS will serve as the Payment System Operator, managing payment facilities and acting as a financial intermediary under the supervision of the Bangko Sentral ng Pilipinas (BSP).

The system is designed to allow the local government unit (LGU) to receive real-time payments from financial consumers while staying compliant with BSP regulations.

As part of the initiative, Cebu City will also develop its own independent digital platform, such as a website or mobile application, through which C PASS or other collecting agents can be accessed as payment options.— (FREEMAN)