Cashless Philippine Government

Philippine Government to adopt a cashless paying system

A Media Log

By: Emily Vizconde

Video: http://anc.yahoo.com/news/aquino-launches-‘cashless-purchase-card’-system-035340734.html

In PICC, President Noynoy Aquino, popularly known as PNoy, delivered a speech in the Good Governance Summit regarding the savings of the government so far and proposed a “cashless” and “checkless” government through the use of cards. According to the video, PNoy believes that the reason why there re many thefts and discrepancies in the financial aspect of the government is because of the large sums of money that are kept within the vicinity of government office to be used to purchase or pay for government needs.

Pnoy has teamed up with Citibank in this endeavor and he imagines a totally cashless government by the year 2015. 98% of our country’s retail financial transactions are still made in cash, while the government pays 54% of their transactions in cash. The article further emphasizes that the system will be implemented in three branches of the government for the time being. Those branches are: the Departments of Budget and Management, National Defense, and the Armed Forces of the Philippines.

International News Site: http://www.vancouversun.com/news/Philippines+launches+cashless+checkless+government/9388263/story.html

http://www.foxnews.com/world/2014/01/15/philippines-launches-cashless-checkless-government-transactions-to-plug/

The Vancouver Sun condensed the Philippine president’s announcement into a few paragraphs briefly stating that he has launched a project to lessen corruption through the use of credit cards. It also mentioned a statement that the Budget Secretary Florencio Abad gave regarding the project, saying that they expect millions in saving due to the elimination of the Php 8 per check that they usually spend on issuing checks in the government. At the end of the article it also stated a brief background of who PNoy was and when he was elected...