FB pixel

Philippines seeks financial inclusion, digital ID expected to reach 50M this year

Philippines seeks financial inclusion, digital ID expected to reach 50M this year
 

Filipino authorities have projected that up to 50 million citizens will be registered for the biometrics-embedded PhilID card by the close of the year, as people continue to open bank accounts thanks to the digital ID document. Permanent ID service centers are also planned for next year.

50 million PhilID card holders by year end

“Our target is 50 million by the end of the year, we are confident we can achieve that despite the challenges of the pandemic,” said Director General of the National Economic and Development Authority (NEDA), Karl Kendrick Chua speaking at a Senate Committee hearing, reports the Philippine News Agency (PNA) reports.

As of October 8, there were 35.9 million individuals who had completed Step 2 of registration which qualifies them for the digital ID card.

With PhilID, financial inclusion gains traction

According to the PNA, a total of 5,792,485 registrants of the Philippine Identification System (PhilSys) had applied to open an account with the Land Bank of the Philippines, as of October 14.

The PSA reminded applicants in a statement that bank account opening after completion of the Step 2 registration process is free.

It also reminded account holders of the benefits they can enjoy which include transactions such as cash in and cash out, fund transfer, cashless payments and online banking.

Three key reasons to have the PhilID

The PSA has explained that apart from opening bank accounts which are improving the country’s financial inclusion, the PhilID is useful for three other major reasons.

The first, the authority said, is that it provides streamlined and precise information about the identity of an individual. Second, it acts as the only valid proof of ID when carrying out transactions with government or other private entities, while the third significance is the speed of the national digital ID verification process.

Fixed centers soon for ID registration updates

PSA Undersecretary Rosalinda Bautista told reporters during a public briefing that there are plans to set up fixed registration centers from next year for people who want to update or correct their digital ID information.

She said the centers will be opened nationwide and can also be used to request new PhilID cards.

PhilSys ambassador program launched

The PSA launched the PhilSys ambassadors program on October 25. The ambassadors were unveiled alongside the PhilSys official jingle.

The government says the initiative is headlined by the country’s pop icon Sarah Geronimo-Guidicelli and husband Matteo Guidicelli.

Article Topics

 |   |   |   |   |   |   |   |   |   | 

Latest Biometrics News

 

Biometric ID cards remain foundational, but don’t count out fingerprint smart cards

Biometric national ID cards top the most-read news of the week on Biometric Update, between a contract in Cameroon for…

 

DHS and TSA adjust digital strategies with biometrics, facial recognition

U.S. government agencies are adapting in real time to a digital landscape transformed by AI, identity fraud, deepfakes and biometric…

 

Finger vein biometrics from Global ID deployed in Namibia’s fight against HIV

A new application of Global ID’s finger vein biometrics to help reduce HIV Infections among vulnerable young people is launching…

 

Bill allowing biometric age verification for booze sales moves to Missouri Senate

The Maryville Forum reports that Missouri retailers could soon perform age verification using biometric methods such as facial recognition or…

 

Victorians sign up for mobile driving licenses in droves but let down at the pub

Victoria reports 200,000 people signing up for mobile driving licenses (mDLs) within the first 48 hours of their introduction this…

 

Retail biometrics queues up from shopping malls to quick serve restaurants

Despite skepticism among American consumers, biometric payments in retail are about to have a moment, according to some experts. These…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

DIGITAL ID for ALL NEWS

Featured Company

ID for ALL FEATURE REPORTS

BIOMETRICS WHITE PAPERS

BIOMETRICS EVENTS

EXPLAINING BIOMETRICS