Starting May 31, the Department of Trade and Industry will accept business name registration payments online.
The DTI recently signed an agreement with BancNet and DBP making these two banking entities its e-payment partners for its Enhanced Business Name Registration System.
The partnership will enable DTI clients who want to open a new enterprise to get their prospective business name registered as well as pay for the service online.
DTI Secretary Gregory Domingo said the convenience afforded by the partnership arrangement is expected help boost e-business registration around the country.
DTI registers an estimated 300,000 business names annually and about five per cent of these transactions are done online, with payments still being remitted to DTI offices.
“That will save the public a lot of time and effort since they no longer have to commute to and from government offices and wait in line. They can transact in a matter of minutes in the comfort of their homes, using secure online portals,” Domingo added.
DBP President Gil Buenaventura said that the government bank’s partnership with DTI in the Enhanced Business Registration System is aligned with its mission of promoting micro, small and medium enterprises (mSMEs).
On the other hand, BancNet is a grouping of 26 rural, savings and universal banks accounting for 20 million ATM cardholders.
The BancNet group can readily fill the payment and settlement needs of both private and government institutions, like the Social Security System, Bureau of Internal Revenue, Philhealth and DTI, BancNet President Robert Plas said.
Photo: from im.rediff.com