03-20-2026 
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A bill that aims to make public digital transactions faster, more transparent, and more efficient for ordinary Filipinos is inching closer to passage at the House of Representatives after its second reading on March 11, the Philippine News Agency reported.
House Bill 8468, also known as the eBayad Act, aims to institutionalize the use of digital payment systems among merchants and government services. If passed, the bill will require specific government agencies in the Philippines to utilize digital payments for goods, services, and other government expenditures, including cash assistance, salary payments, allowances, and honoraria for employees across national agencies, government corporations, local government units, state and local colleges and universities, as well as relevant government offices located abroad.
Under the eBayad Act, government agencies must send funds to a recipient’s account via automatic debit arrangements, electronic fund transfers, or other payment partners offering government assistance and payments.
The bill requires agencies to allow digital collection of taxes, tolls, imposts, and other revenues, including non-income collections and receipts. It also recognizes electronic invoices and receipts as valid proof of payment, subject to applicable accounting, audit, and tax laws. Meanwhile, cash payment would still be acknowledged.
The eBayad Act establishes a steering committee led by the Bangko Sentral ng Pilipinas, the central bank of the Philippines. This committee will include key agencies and aims to guide the implementation of digital payment solutions. Its goal is to ensure transparency and to address any challenges that may arise as agencies transition to digital payments.
In addition, the act allows LGUs to help businesses adopt digital payments by crafting ordinances and providing monetary or non-monetary incentives, such as reduced fees and assistance for small and micro businesses. Meanwhile, the Securities and Exchange Commission (SEC) and the Bureau of Internal Revenue (BIR) must keep costs fair through incentive programs. The bill also requires the BSP to create a long-term plan aligned with the e-government strategy, setting clear goals for the next five years.
“We are inching closer to mandate digital payments in all government transactions,” House Majority Leader Ferdinand Alexander “Sandro” Marcos of Ilocos Norte said in a statement.
Marcos added that the eBayad Act will solve the daily problems of ordinary Filipinos who are currently experiencing delays, long lines, and cash-only systems even for basic transactions.
“People’s time should not be wasted on long lines and back-and-forth transactions. Through the eBayad bill, we are building a government that delivers faster, cleaner, and more convenient transactions for ordinary Filipinos,” he said.The eBayad Act is part of the Common Legislative Agenda of the Legislative-Executive Development Advisory Council. This bill outlines a transition period of up to three years, emphasizing the importance of security by requiring that the data, information, and ICT systems used for these transactions are well protected. It establishes responsibilities for payment service providers regarding data security and privacy, and mandates that they coordinate with the Commission on Audit for post-audit reviews and compliance with agreements related to payment systems.
The Philippines racing for a digital economy
The Philippines has been working to become a leader in the digital economy in Southeast Asia. In 2024, the country surpassed its 2024 target of 52-54% for digital payments set under the Philippine Development Plan 2023 – 2028. According to BSP research, digital payments accounted for 57.4% of total transaction volume, compared to 52.8% in 2023.
This aligns with a report from Fiuu, which identified 2025 as a key year for the fintech industry in the Philippines, driven by the increasing adoption of digital wallet services that are transforming everyday commerce.
The country is implementing several digital payment initiatives, including an upcoming wholesale central bank digital currency (CBDC), to facilitate government bond issuance and improve nationwide satellite internet connectivity in collaboration with the Department of Information and Communications Technology (DICT). These efforts aim to enhance digital payments and financial education programs.
Despite an optimistic outlook, the Philippines may not achieve its goal of converting 70% of total payments to digital by 2028, as indicated by the Bangko Sentral ng Pilipinas in February.
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