MANILA, Philippines — The Department of Social Welfare and Development (DSWD) signed agreements on Tuesday with at least six financial service providers (FSPs) to digitize the payment of the second tranche of the Social Amelioration Program (SAP) cash subsidies.
The six FSPs are GCash, RCBC, Robinsons Bank, PayMaya, Starpay and Unionbank. All have been identified as “compliant” to undertake digital electronic disbursement of cash aid through e-wallet accounts and online bank accounts.
DSWD spokesperson Irene Dumlao said they would also seek the help of the Bangko Sentral ng Pilipinas (BSP) for the digital payment of the cash subsidy.
Under the agreement, the BSP will provide technical assistance in identifying additional qualified FSPs that will undertake the digital payment.
On Tuesday, the DSWD signed a memorandum of agreement with the six FSPs and the Land Bank of the Philippines, Dumlao said.
Land Bank will serve as the “main depository bank” and will download funds to the six FSPs. Land Bank will credit the fund into the FSPs funding accounts maintained with its Batasan Branch or in other financial institutions based on the instruction and payroll documents provided by the DSWD.
The six FSPs will then credit the cash subsidies to the beneficiaries’ accounts within 24 hours upon receipt of the funds from Landbank.
Dumlao said the digital payment of cash subsidies was expected to start next week.
In his 14th report to Congress, President Duterte said the delay in the distribution of the second tranche of social amelioration funds to 12 million poor families was caused by issues ranging from fake messages to slow uploading of beneficiaries’ data.
The President noted that only 1.3 million families have received the second tranche of cash aid worth P79.9 billion.
He blamed the delay on the slow uploading of SAP card information by local governments.