The Department of Trade and Industry has put up an electronic payment (e-payment) scheme for business name registration, as it moves to further ease the processes involved in doing business in the country.
The establishment of an e-payment scheme was done in partnership with BancNet, Development Bank of the Philippines, Globe Xchange Inc. and Landbank of the Philippines.
Through this facility, entrepreneurs may register their business names without the need to visit the DTI office as payments can now be done via electronic means. The DTI has enlisted both Globe’s GCash and Bancnet for the e-payment facility.
“In assuring entrepreneurs of an enabling business environment, the government is gathering institutions and partners from the private sector to work on key reform areas in line with President Aquino’s policy thrust anchored on good governance and transparency,” Trade Secretary Gregory L. Domingo said.
According to Domingo, the e-payment facility is in line with the government’s goal of ensuring a favorable environment for both local and foreign businesses operating in the country.
Trade Undersecretary Nora K. Terrado noted that, after migrating the Enhanced Business Name Registration System (eBNRS) and Philippine Business Registry System (PBRS) to the cloud environment in 2013, the DTI enhanced these systems to expand the services offered.
In less than 15 minutes, applicants may “complete the registration … and print their business name certificates,” she said.
Terrado added that registering a business name could also be done online through the PBRS website at business.gov.ph.