FFE Magazine

Gov’t to kill corruption through cashless Transactions

Gov’t to kill corruption through cashless Transactions

Budget department secretary says liquidation will be detailed in the Cashless Purchase Card System.

 

Budget and Management department (DBM) Secretary Florencio Abad is confident that the Cashless Purchase Card System will be the key to get rid of corruption in the government once and for all.

 

The Aquino administration launched the cashless transaction programme last January and has since been implemented in three government agencies: DBM, the Armed Forces of the Philippines and the Department of National Defence.

 

The Cashless Purchase Card System is the government’s programme to make all government financial transactions fully-digitised. Abad said all purchases using the cards will be reflected real time in a web-based platform.

 

‘Cashless cards will play a defining role in ridding government transactions of the corruption they’re notorious for. The cards will do away with petty cash advances and payments in procurement…

 

‘Overall, the digitization of the procurement process will be key in ensuring that every peso spent by government officials and employees is well-spent and accounted for,’ said the secretary.

 

Abad said that the cashless transaction cards not only make government transactions more transparent. They also save time and resources: ‘we can seal off the gaps that make it easy for irregularities to happen. In the case of cashless purchase cards, we’re tying together what used to be separate transactions: procurement, payment, and auditing.’

 

He assured the public that once the pilot implementation in the three government agencies has been successfully established, there ‘won’t be any room for unliquidated expenses.’

 

The cashless transaction programme is seen by Abad as a way to ‘[assure] our citizens that the government is using state funds honestly and responsibly.’ The government is targeting next year to implement the programme in all of its agencies.

 

Around the world, cashless purchases are not only limited to government transactions but are already the norm in businesses. According to the European Payments Council, there has been growth in the use of cashless systems in EU since 2000. While cash may not totally be eradicated, the Stockholm Royal Institute of Technology also said last year that a society where use of cash is reduced to a minimum is realistic.

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