Manilaa Bank Executive Cited Close Coordination Between The Government And Private Sector For Wider Use Of Electronic Invoicinge Invoicing News Today : Breaking News, Live Updates & Top Stories | Vimarsana

MANILA - A bank executive cited close coordination between the government and the private sector for the wider use of electronic invoicing (e-invoicing), noting that this will result to more successful shift towards digital payments. Ramon Duarte, Union Bank of the Philippines (Unionbank) Executive Vice President and head of Transaction Banking and Platform Development, said the bank, along with other financial institutions, is working with the government regarding digital receipts issuance. He said while processes, payments, and financing platforms have shifted towards digital means, the issuance of paper receipts is still required. This "introduces a lot of friction" and "produces a lot of issues," he said. "That's one reason why customers also still resist moving to these electronic payments because they want kaliwaan (direct exchange of goods or money) so that they can make sure that they will get their resibo (receipt)," he added. The Department o ....

Ramon Duarte , Platform Development , Department Of Finance , Union Bank , Executive Vice President , Transaction Banking , Manilaa Bank Executive Cited Close Coordination Between The Government And Private Sector For Wider Use Of Electronic Invoicinge Invoicing , Oting That This Will Result To More Successful Shift Towards Digital Payments Ramon Duarte , Nion Bank Of The Philippines Unionbank Executive Vice President And Head Transaction Banking Platform Development , Raid The Bank , Long With Other Financial Institutions , S Working With The Government Regarding Digital Receipts Issuance He Said While Processes , Nd Financing Platforms Have Shifted Towards Digital Means , He Issuance Of Paper Receipts Is Still Required This Quot Introducesa Lot Friction And Producesa Issues , Uot He Said Quot That 39s One Reason Why Customers Also Still Resist Moving To These Electronic Payments Because They Want Kaliwaan Direct Exchange Of Goods Or Money So Can Make Sure Will Get Their Resibo Receipt , Uot He Added The Department Of Finance Dof Bids To Complete Full Shift Towardse Invoicing System By December This Year In Line With Government 39s Aim Towards Digital Transformation Tax Administration Quot That Something We Continue Work Major Industry Players , Ajor Businesses To Help Communicate The Urgency And Need For This Because If We Can Address Issue Ofe Receipt Ande Invoicing Then It Will Really Accelerate Adoption Of Scf Supply Chain Financing , Digital Payments , Nd Onboarding Of Digital Transformation , Uot Duarte Said Once This Bid Materializes Quot It Will Have Huge Implications And Benefits , Uot He Added Pna ,