A local is proposing a partnership with the city government to provide an electronic payment and collection system (EPCS) for free.
The proposal of the WireCard E-money Philippines is in line with the RA 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.
Sam Lacorte, the manager of WireCard E, said in a letter to the secretary of the City Council, Charito Santos, that they have presented their electronics payment solution last August along with an endorsement letter from the City Accountant Office.
Among the proposed services is an e-commerce facility, which provides a platform to process payments online through WireCard E’s payment gateway.
It also offers to integrate the Davao City’s website with the e-commerce facility that would enable acceptance online payments of fees, fines, penalties, and surcharges, among others.
It also offers to give real-time payment results and confirmation required by the Commission on Audit and the Bureau of Treasury. It can also provide a live and real-time reports required by COA.
While the setup and other fees for the city government is free, the WireCard E proposes a pass-on convenience fee of P35 per transaction with a 3% merchant discount rate for credit cards.
WireCard E is a domestic corporation formed and existing under the laws of the Philippines.
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) granted to WireCard E a license to operate as an electronic money issuer (EMI). Soon affer, Bancnet approved its application for membership as an EMI affiliate.
A prepaid issuing license from VISA was also obtained by WireCard E as well as an acquiring license to operate electronic data capture terminals and e-Commerce facility for Visa and MasterCard, including credit cards, ATMs, debit cards, prepaid cards, and e-wallets.
“With the said licenses, WRECARDE now has the technical expertise and capability to operate in the Philippines a full spectrum of Online Payment-Infrastructure,” the firm said in its proposal.
