Initiative to boost financial inclusion, digitalization agenda of the Philippines
In line with a shared mission to promote financial inclusion in the country, the Philippine Statistics Authority (PSA), together with the Department of Information and Communications Technology (DICT), has tapped GCash as a pilot testing partner for its National ID eVerify platform.
The initiative, led by the PSA and the DICT, aims to provide a secure and seamless way for government agencies and private sector partners to authenticate their customers’ identities.
For financial institutions like GCash, this platform can facilitate a faster and more secure know-your-customer (KYC) process, as it provides a reliable method to verify the identity of potential customers. This allows individuals to provide fewer physical requirements and speed up their account opening process.
With National ID eVerify, organizations can better avoid document fraud and ensure that the civil registry documents presented by individuals are genuine and issued by the PSA.
“At GCash, trust and security are at the core of our work for our customers. When we secure our services through a centralized authentication process, we can ensure the legitimacy of all our users through the National ID. We are better positioned to foster financial inclusion for more Filipinos when we have safer financial platforms,” said Ren-Ren Reyes, president and CEO of GCash mobile wallet operator, G-Xchange, Inc.
Reyes added, “This opportunity to continue working with the PSA and the DICT not only allows us to improve the user experience further but also contributes to the Philippine government’s digitalization agenda.”
Reyes noted that IDs issued through the PSA’s Philippine Identification System (PhilSys), including PhilIDs and ePhilIDs, are already among the most commonly presented valid IDs for GCash account verification.
Undersecretary Dennis Mapa, National Statistician and Civil Registrar General of the PSA, said, “The Philippine Statistics Authority remains steadfast in its goal to register all Filipinos within the National ID system ensuring our unwavering commitment to providing a unified National identification system to all our kababayans.”
David Almirol Jr., Undersecretary for e-Government at the DICT, said that GCash’s vital participation in the pilot tests will lead to more efficient and responsive systems.
“The National eVerify will streamline and improve the way we do things in the government. This will amplify and simplify private and government consumption. If we are able to implement this well with the help of both the private and government sectors, the digital transformation in the Philippines will come to fruition. Efficient services shall be delivered to the Filipino people. No long queues in government offices. Filipinos can now process documents and apply private and government services in the comfort of their homes,” he said.
Frederick D. Go, Secretary and Special Assistant to the President for Investment and Economic Affairs (SAPIEA), also noted that this initiative is just the beginning of its strategic partnership with PSA, DICT, and GCash as they share the goal of providing vital assistance to the most vulnerable communities in the country. He said, “The digital National ID is a beacon of hope – a reminder that even the most ambitious dreams can become reality when we work together towards a common goal.
Currently, GCash is closely working with the PSA and the DICT to ensure seamless integration with the eVerify platform.
