BOC’s upgraded payment system for full implementation by Oct 1

0
1366
BOC’s upgraded payment system for full implementation by Oct 1
Payment Application Secure System Version 6.0's design allows completion of payments within minutes, leading to shorter time for processing of shipments. The system is directly connected to the Philippine Payment and Settlement System through the Philippine Clearing House Corp.’s payment gateway, ensuring that remittances to BOC are executed immediately and accurately. Photo from the Bureau of Customs.
  • Starting October 1, the Bureau of Customs will fully implement its new payments system via select banks
  • The Payment Application Secure System Version 6.0 (PASS 6) is an upgraded version of the PASS Version 5.0 system
  • PASS 6 will initially be available to stakeholders who pay duties and taxes through Security Bank, Land Bank of the Philippines, Asia United Bank, and Metropolitan Bank and Trust Company
  • System rollout to other banks is in the works

The Bureau of Customs’ (BOC) upgraded 24/7 payments system will start full implementation on Oct 1, the agency said in a statement.

The Payment Application Secure System Version 6.0 (PASS 6), an upgraded version of the PASS Version 5.0 (PASS5) system, is now connected to BOC’s Electronic-to-Mobile (E2M) System.

PASS 6 will initially be available to stakeholders who pay duties and taxes through Security Bank, Land Bank of the Philippines, Asia United Bank, and Metropolitan Bank and Trust Company, BOC said in a statement. System rollout to other banks is in the works.

BOC in an earlier statement said the connection of PASS 6 to the E2M System ensures the accurate and immediate exchange of transaction information on assessment details of payable duties and taxes.

PASS 6’s design allows completion of payments within minutes, leading to shorter time for processing of shipments. The system is directly connected to the Philippine Payment and Settlement System through the Philippine Clearing House Corp.’s payment gateway, ensuring that remittances to BOC are executed immediately and accurately.

Acting Customs commissioner Yogi Filemon Ruiz said they are expediting the digitalization of BOC services as part of the agency’s modernization initiatives, and as aligned with the administration’s socioeconomic agenda and directive of President Ferdinand Marcos Jr. to modernize infrastructure and systems to increase trade operational efficiencies and promote the growth of the Philippine economy.

Aside from PASS 6, BOC in 2020 inked a memorandum of agreement with the Bureau of the Treasury, Development Bank of the Philippines, and online payment service provider PayMaya Philippines, Inc. to allow clients to use PayMaya’s payment solutions to pay miscellaneous fees and charges.

RELATED ARTICLESMORE FROM AUTHOR