The Bangko Sentral ng Pilipinas (BSP) recently installed more coin deposit machines particularly in shopping malls which will give people more opportunities to put their idle or excessive Peso coins to use, according to a BusinessWorld news report. As of the end of September 2023, almost P100 million worth of coins have been deposited since the BSP launched their coin deposit machines project.
To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…
CONSUMERS have deposited P98.8 million worth of currency into the Bangko Sentral ng Pilipinas’ (BSP) coin deposit machines (CoDMs) as of end-September or just three months after their rollout in June.
This is equivalent to 37.2 million pieces of coins from over 37,000 transactions, the BSP said in a statement. The highest single transaction recorded on the machines so far was worth P100,260.
“With more CoDMs installed in various retail establishments, the BSP expects wider public use that will lead to more efficient coin recirculation in the country,” the central bank said.
The BSP has completed its goal of deploying 25 coin deposit machine units across Metro Manila and other nearby provinces. The central bank began deploying CoDM units in June in partnership with Filinvest Lifemalls Corp., Robinsons Supermarket Corp., and SM Retail, Inc.
BSP Deputy Governor Bernadette Romulo-Puyat told reporters on Wednesday that the central bank is looking to roll out more machines across the country, adding that the BSP has been asked to set up some in Cebu, Davao, Pampanga, and Baguio.
“Right now, we are just assessing [the existing machines]. We’re talking to the provider how to make the machines better because the machines are usually jammed,” she said in mixed English and Filipino.
The machines can get stuck if the coins deposited are taped or bundled or if a consumer deposits foreign objects such as nails, tokens, and screws, she said.
“The ideal is when we deploy coin deposit machines, it would be stand-alone,” Ms. Romulo-Puyat said. “Now, the machines need technical assistance all the time.”
The demand for coin deposit machines has been higher than expected, with people lining up to deposit coins, she added.
“People have warmed up to it. The mere fact that people are asking when the BSP will deploy units in their area means people are looking for it,” she added.
The BSP has installed coin deposit machines in SM Megamall in Mandaluyong City, SM City Grand Central in Caloocan, SM City Marilao in Bulacan, SM City Taytay Rizal, SM Hypermarket FTI in Taguig City, SM Southmall in Las Piñas City, SM City Sucat in Parañaque, SM City Calamba, SM City Marikina, SM City San Mateo Rizal, SM City Valenzuela, Robinsons Place Metro East in Pasig City, Robinsons Place Antipolo City, Rizal, Robinsons Place Novaliches and Robinsons Place Magnolia, Quezon City.
The value of coins deposited in CoDMs may be credited to the depositor’s e-wallet account or converted into a shopping voucher for over-the-counter transactions. Customers depositing coins can credit the equivalent amount to their GCash or Maya e-wallets.
Let me end this piece by asking you readers: What is your reaction to this recent development? If there is a BSP coin deposit machine in your city, were you able to visit and deposit your coins? When was the last time you stored your coins in containers?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
For decades now, I have been living in Alabang and I witnessed how much Muntinlupa City modernized along the way. Bordering Barangay Ayala Alabang is Filinvest City (formerly called Filinvest Corporate City) which itself is home to several business or facilities such as the Filinvest Tent, Commercenter, Acacia Hotel Manila, Crimson Hotel, Westgate and, of course, the wildly popular place to be in – Festival Mall.
For the newcomers reading this, Festival Mall opened in May 1998 with its initial name Festival Supermall. Way back then, out of pure curiosity, I entered the mall for the first-time ever during its soft opening on May 1, 1998 (Labor Day here in the Philippines) as I was already looking for a new place and new discoveries at a time when I got tired of Alabang Town Center (ATC).
Being very new back then, Festival Mall’s presence of retailers or tenants was not yet dynamic as there were still businesses inside that could not open in time for the mall’s opening. I do remember walking down seeing lots of vacant retail spots covered with signs such as “opening soon”, “coming soon” and the like. Back in those days, the Philippine economy and society itself were dampened by the 1997 Asian Financial Crisis.
As the months passed by, more businesses opened and Festival Mall’s early attractions include the X-Site Amusement Center (which already had the indoor roller coaster) and, of course, the brand new cinemas which had several screens operating at a very spacious area on the top floor. I still remember seeing lots of people lining up for tickets and seats to watch Armageddon which ended up as the highest grossing movie of the world in 1998.
Indeed, for more than a decade, Festival Mall’s original cinemas became a favorite destination of mine to watch movies in Alabang and I definitely was not alone. I also remember the times when the said cinemas attracted a whole lot of moviegoers when the annual Metro Manila Film Festival’s (MMFF) opening day (every December 25) happened resulting in long lines. Watch the YouTube videos below…
As you can see in the above videos, Festival Mall’s original cinemas was a hot spot for moviegoers. It should be noted that the mall is strategically located in close proximity to the Alabang Viaduct and the South Luzon Expressway (SLEX) which ensures visibility to motorists and accessibility to commuters on a daily basis. The old cinemas were also a hot spot for a variety of small businesses selling different kinds of food and drinks to moviegoers and others who just passed by.
Festival Mall at 25
This past May, Festival Mall turned 25 and its anniversary was highlighted with special events as well and publicity through the media. There were these Festival Mall 25th anniversary feature articles that got published in different newspapers almost simultaneously. In the commemorative article that got published in the Manila Bulletin, President and CEO of Filinvest Development Corporation Josephine Gotianun Yap was quoted which goes as follows in the excerpt below. Some parts in boldface…
“We would not be where we are today without the unwavering support of our customers, merchants, suppliers, and employees who have journeyed with us through the years. It is humbling to think that when we first opened the mall, we only had 30 stores and no anchor supermarket. But thousands of visitors came on our first day, attracted by our amusement centers, cinemas, and food court. And now the mall has 800 tenants and eight leading anchor stores. We value our collaboration with major retailers, which has enabled us to bring together SaveMore, Ace Hardware, Robinson’s Department Store, Handyman, Shopwise, H&M, Decathlon, and Landmark all under one roof. As we build on its strong foundations for the future, we see Festival Mall continuing to serve as a place where time stops for making memories with family and friends,”
As seen above, the Filinvest Development Corporation executive clearly referred to the original cinemas which was one of the early attractions of Festival Mall way back in 1998. As mentioned earlier, Festival Mall today has more modern cinemas located at the expanded area on the same floor but several meters away from the original cinemas. So how does Festival Mall’s original cinemas look like nowadays? Watch the video below…
Yes, indeed the mall’s original cinemas have turned depressing. There are much less customers who pass by the area and many of the businesses that operated within have closed down! As I personally found out, Festival Mall is still using a few screens at the old cinemas for moviegoers while leaving the many others closed and left in the dark. If you think about it carefully, what does the mall management have in mind with regards to all of those cinema seats, sound systems, projectors, screens and other pieces of equipment inside each and every closed screen of the original cinemas?
A closed screen at one end of the original cinemas of Festival Mall. Just imagine what is left of all the hardware (examples: projectors and speakers) and seats inside.
This was a premium place to watch movies at. It had more comfortable seats and better equipment that made the cinematic experience more immersive. It was here where I saw 2001’s Final Fantasy: The Spirits Within.
This is where I used to buy movie tickets for many years. For some time now, the selling of movie tickets here has stopped. To buy tickets, you have to go to the modern cinemas of the mall several meters away by foot at the same floor.
Apart from seeing more of the screens of the original cinemas closed down, the number of small-time businesses that sold different kinds of food and drinks are also gone which is depressing. Those businesses offered moviegoers different choices of what to eat or drink apart from the usual popcorn and drinks sold by the cinema’s concessionaires. I do remember a certain business joint that sold really good coffee (both hot and cold) that is also affordable.
There used to be different kinds of small business joints that sold a variety of food and drinks located on the floor spots at the original cinemas area. Those businesses have since closed down and left.
I remember the times I bought popcorn and drinks at this place before watching a movie. Now there are no food, no drinks and no people selling to customers anymore.
With the way things are right now, walking through the original cinemas area of Festival Mall is lonely and depressing to do. The area is almost lifeless and it easily is the saddest place inside the mall which itself has become a major attraction for shoppers and families. I can only wonder if Festival Mall’s management has any plan to revive the original cinemas area. Will they someday renovate at least a few of the screens and install brand new seats and other equipment to accommodate more moviegoers? Do they plan to attract new businesses to occupy the vacant commercial spaces and floor spaces near the old cinemas?
It would be nice to know if Festival Mall’s management or Filinvest itself has any plan to revive commerce at the original cinemas area which is now the saddest and loneliest part of the mall.
To be very clear with you all reading this, I never worked for a shopping mall nor have I ever worked in the movie theater business. I am a long-time resident of Alabang who often visits Festival Mall for purchasing needed items, dining and availing of services. Watching movies at Festival Mall used to be a big reason for me to spend time at the mall. I know for a fact that operating movie theaters is difficult and attracting people to watch movies on the big screen is tougher because of streaming. It does not help that the COVID-19 pandemic convinced people that watching new movies at home via streaming is the new standard which also made them think that movie theaters are unnecessary.
As a movie enthusiast, I can say out loud that watching a movie inside the cinema is still the best and most definitive way to enjoy watching. The movie theater experience can never be matched by streaming nor could the biggest HDTV at home could ever come close to the size and visual impact of a cinema screen. That being said, I can only hope that Festival Mall could someday revive the movie experience and commerce at their original cinemas area. They already have the modern cinemas at the expanded area but those are only 4 screens.
If you are living here in South Metro Manila and you have been to Festival Mall several times before, what do you think the mall management should do about their old cinemas? Is Festival Mall your favorite place to watch movies in? Do you think that hosting multiple film festivals – both foreign and domestic – each year would justify renovating the old cinemas of the mall?
Recently in the progressive city of Muntinlupa, it was announced that Business and Permit Licensing Office (BPLO) of the City Government were present at Festival Mall in Filinvest City for the convenience of business owners for permit processing and will remain there until October 13, 2023, according to a Manila Bulletin news report.
To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…
The Muntinlupa City government’s business renewal has returned to the Festival Mall in Alabang for the convenience of business owners.
Muntinlupa’s Business Permits and Licensing Office Single-Window Transaction (BPLO-SWiT) program is available in the mall from Oct. 9 to 13 for easier and faster transactions.
“We encourage businesses to take the opportunity to pay their obligations early and avoid penalties for late payments. With the BPLO-SWiT, we are making tax payments more accessible than ever, so we call on everyone to avoid the rush and possible penalties,” said Mayor Ruffy Biazon.
Applicants can transact from 10 a.m. to 4:30 p.m. at the BPLO-SWiT booth, situated near the Festival Mall concierge.
The whole process, starting from the submission of documents, encoding of information, payment of fees, to printing of official receipt, Community Tax Certificate, Business License and Mayor’s Permit Certificate, and Barangay Clearance for Business, takes as little as 20 minutes, provided all documentary requirements are complete.
In addition to the BPLO-SWiT, business owners may also continue to renew their license and Mayor’s Permit at the BPLO in Muntinlupa City Hall and online via the Business E-payment System (BESt).
Let me end this piece by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City and you own a business, were you able to avail of the BPLO’s services at Festival Mall? Do you think that the Muntinlupa BPLO should have a longer presence at Festival Mall for your business permit processing needs?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
As the Philippines continues to move forward in this post-pandemic age, the national unemployment rate fell down to 4.4% this past August, according to a Manila Standard news report.
To put things in perspective, posted below is an excerpt from the Manila Standard news report. Some parts in boldface…
The unemployment rate in the Philippines fell to a three-month low of 4.4 percent in August 2023 from 4.8 percent in July, the Philippine Statistics Authority said Friday.
National statistician and civil registrar-general Dennis Mapa said in an online briefing the August unemployment rate was also lower than 5.3 percent recorded a year ago.
This translated to about 468,000 fewer unemployed individuals in August, according to the National Economic and Development Authority (NEDA).
“In terms of magnitude, there were 2.21 million unemployed Filipinos aged 15 years and over in August 2023,” Mapa said.
“It was also lower than the 2.27 million unemployed in July 2023 and 2.68 million a year ago,” he said.
The underemployment rate also fell from 14.7 percent in August 2022 and 15.9 percent in July 2023 to 11.7 percent in August this year. This was equivalent to 1.4 million fewer underemployed persons, particularly among those employed in the services and industry sectors.
Underemployed persons are those who have expressed the desire to have additional hours of work in their present job or to have an additional job, or to have a new job with longer hours of work.
The number of employed persons aged 15 years and over in August 2023 increased to 48.07 million from 47.87 million a year earlier. This translated into 95.6 percent employment rate, higher than the reported employment rate in August 2022 and July 2023 at 94.7 percent and 95.2 percent, respectively.
Total employment increased 203,000 in the agriculture and industry sectors.
Mapa said the labor force participation rate (LFPR) in August reached 64.7 percent, lower than 66.1 percent a year ago, but higher than 60.1 percent in July 2023.
NEDA underscored the Marcos administration’s commitment to generating high-quality and high-paying job opportunities for workers.
NEDA said that apart from the decline in underemployment, several other indicators pointed to an accompanying increase in the quality of employment, including the increase in wage and salary, and full-time employment, and the decline in vulnerable and part-time employment.
“However, much remains to be done as the number of middle- and high-skilled occupations decreased (-354,000), while low-skilled occupations increased (+551,000) compared to the previous year,” NEDA said.
NEDA Secretary Arsenio Balisacan said the government would continue its efforts to create better job opportunities for workers in the country.
“To raise the quality of employment further, the Marcos administration is committed to exerting all efforts to shape an attractive business climate for investors who have the resources needed to bring in high-quality and high-paying jobs,” he said.
Let me end this piece by asking you readers: What is your reaction to this recent development? Were there many people in your local community who were fortunate to get a new job over the past twelve months?
Do you have an excessive amount of coins with you right now? In recent times, the Bangko Sentral ng Philippines (BSP) launched their project to give people opportunities to deposit their coins through coin deposit machines (CoDMs) that were installed in a few locations. According to a report by GMA Network, almost P90 million worth of coins have been deposited.
To put things in perspective, posted below is an excerpt from the GMA News report. Some parts in boldface…
Nearly P90 million worth of coins have been deposited through the Bangko Sentral ng Pilipinas’ (BSP) coin deposit machines (CoDMs).
Since its launch on June 20, over P87.4 million worth of coins were deposited through CoDMs from more than 20,000 transactions as of September 22, 2023.
The CoDMs were launched in a bid to encourage the public to make use of their idle coins.
Latest central bank data revealed that the coins deposited into the machines were mostly credited to customers’ e-wallets, while a portion was exchanged for shopping vouchers.
In June, the BSP deployed two CoDMs at the SM Mall of Asia in Pasay City, one at Festival Mall in Alabang, Muntinlupa City, and another at Robinsons Place Ermita in Manila.
Moreover, the BSP installed additional coin deposit machines at Robinsons Place Galleria in Ortigas, SM City North EDSA, SM City Fairview in Quezon City, SM City San Lazaro in Manila, SM City Bicutan in Parañaque, and SM City Bacoor in Cavite, bringing the total CoDMs count to 10.
The BSP’s CoDMs accept all denominations of the BSP Coin Series and the New Generation Currency Coin Series launched in 2018, ranging from a centavo to as high as P20.
Through the CoDMs, customers can deposit legal tender coins and have the equivalent amount credited to their GCash accounts. The BSP said it is also working to onboard Maya to provide more e-wallet options to the public.
In using the machines, the central bank urged customers that coins to be deposited must not be taped or bundled, must not come with other objects like buttons, magnets, nails, tokens, screws, or washers, and must be gently placed in the coin slot in handfuls.
Being based in Muntinlupa City, I myself managed to deposit coins into the BSP machine located inside Festival Mall in Filinvest City in Alabang. I really liked the convenience of having the amount of my deposited coins transferred electronically into my GCash account and without any technical or convenience fees charged. I can only hope that the BSP will come up with options for coin depositors to transfer the collected value directly into bank accounts without charging any fees.
Let me end this piece by asking you readers: What is your reaction to this recent development? Were you able to deposit your coins at a BSP machine near your local community? Do you think this project by the BSP will help prevent coin shortages from happening? If you have an excessive amount of coins in your household right now, would you be willing to deposit them all into a BSP machine?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
In the views of the First Metro Investment Corporation (FMIC) and the University of the Asia and the Pacific (UA&P), the economy of the Philippines could grow by 5.5% for the year, according to a news article by Philippine News Agency (PNA). 2023 has been an economically challenging year and many anticipated that the national economy won’t grow as high as it did in 2022.
To put things in perspective, posted below is an excerpt from the PNA news report. Some parts in boldface…
The Philippine economy is projected to grow by 5.5 percent this year, driven by the growth in government spending, a report released by the First Metro Investment Corporation (FMIC) and the University of the Asia and the Pacific (UA&P) said.
In the September issue of The Market Call released on Wednesday, FMIC and UA&P said Philippine economic growth in the third quarter of the year will likely reach 5.0 to 5.2 percent.
For the fourth quarter of this year, FMIC and UA&P project the country’s gross domestic product (GDP) to grow by 6 percent.
This would bring the full year GDP growth to 5.5 percent which is slightly below the government’s 6 to 7 percent target for this year.
“Despite the weak July-August, we think the NG will accelerate further its spending on infrastructure and transportation for the rest of the year, and employment will have strong rebound in September,” the report said.
The Philippine economy grew by 4.3 percent in the second quarter of this year. During the quarter, government expenditure contracted by 7.1 percent.
FMIC and UA&P however expect government spending to accelerate in the second half of the year.
“National Government took up the slack in July spending as it ramped up expenditures by 16.2 percent year-on-year in July through higher social protection and infrastructure outlays,” the report said.
Aside from government spending, FMIC and UA&P also expect manufacturing and construction to drive growth.
Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the national economy can do better than the 5.5% growth foreseen by the First Metro Investment Corporation (FMIC) and the University of the Asia and the Pacific (UA&P)?
In a new attempt to provide jobs in the Philippines and boost the economy, President Ferdinand “Bongbong” Marcos, Jr., recently signed into law the Trabaho Para sa Bayan Act, according to a news article by the Philippine News Agency (PNA).
To put things in perspective, posted below is an excerpt from the PNA news report. Some parts in boldface…
The passage of the Trabaho Para sa Bayan Act will help the government achieve the goal of the Philippine Development Plan to provide more jobs to Filipinos, the National Economic and Development Authority (NEDA) said Wednesday.
President Ferdinand R. Marcos Jr. signed on Wednesday the Trabaho Para sa Bayan Act which seeks to, among others, address the challenges in the labor market.
“We support the Trabaho Para sa Bayan Act as it contributes to the Philippine Development Plan 2023-2028, which aims to increase employability, expand access to employment opportunities and achieve shared labor market governance,” NEDA Secretary Arsenio Balisacan said in a statement.
The law mandates the formulation of the Trabaho Para sa Bayan Plan (TPB) to address unemployment, underemployment, the informality of working arrangements, the reintegration of Overseas Filipino Workers and other challenges in the labor market.
It will also focus on improving the employability and competitiveness of Filipino workers through upskilling and reskilling initiatives and will provide support for micro, small and medium enterprises, and industry stakeholders.
The TPB Inter-Agency Council, chaired by the NEDA Secretary, will conduct a comprehensive analysis of the employment situation and labor market in the country.
The Council will also ensure the effective use of resources, harmonizing and complementing all governmental efforts and assisting local government units in planning, devising and implementing employment generation and recovery plans and programs within their respective localities.
Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Trabaho Para sa Bayan Act will create positive results over the next few years if it succeeds? Do you think that more could be done to help local job hunters find opportunities and get employed soon?
Recently in the progressive City of Muntinlupa, the local sellers of rice grain received temporary relief as the City Government implemented a moratorium on the collection of rental payments, according to a Manila Bulletin news report.
To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…
The Muntinlupa City government has imposed a moratorium on the collection of rental payment from stall holders engaged in the selling of rice as assistance to them following President Marcos’ decision to put a price cap on regular and well-milled rice.
Marcos issued Executive Order No. 39 on Aug. 31 imposing a mandated price ceiling of P41 per kilo for regular milled rice and P45 per kilo for well-milled rice. The rice price cap took effect on Sept. 5.
To assist the affected rice retailers, the Muntinlupa City Council passed Ordinance 2023-120 “imposing moratorium on rental payment for public stall holder in the retail business of selling rice during the effectivity of Executive Order No. 39 or the imposition of mandated price ceiling on rice.”
Mayor Ruffy Biazon signed the ordinance on Sept. 26, which became “effective immediately upon its approval.”
According to the ordinance, the President issued E.O. 39 “with an end view to put a price cap on rice in the effort to ease off the increasing price of the staple caused by illegal price manipulation such as hoarding by opportunistic traders and collusion among industry carters in the light of the lean season, as well as global events taking place beyond the Philippines’ control, such as the Russia-Ukraine conflict, India’s ban on rice exportation, and the unpredictability of oil prices in the world market, among other factors, have caused an alarming increase in the retail prices of rice/”
The Department of Interior and Local Government (DILG) issued Memorandum Circular No. 2023-131 for mayors to assist and ensure the effective regulation of the price of rice through “regular inspections of public and private markets, as well as rice warehouses; activation of hotlines, consumer complaints desk, and Timbangan ng Bayan; and deputation of barangay officials and non-government organizations to monitor abnormal price increases,” the ordinance added.
Let me end this piece by asking you readers: What is your reaction to this recent development? Do you approve of the City Government’s moratorium on the collection of rental payments with regards to the local sellers of rice grain?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
The Philippines is close to hitting its 2023 arrival target after recording more than 3.87 million foreign tourists as of Sept. 19, Tourism Secretary Christina Frasco said Wednesday.
At the opening of the 2023 Philippine Travel Exchange (PHITEX) in Cebu, Frasco said the country logged 3,877,183 inbound arrivals or at least 80.77 percent of the 4.8 million foreign tourists that the DOT targets to reach by the end of the year.
In the same period, the Philippines generated PHP316.9 billion in revenue from tourists coming mostly from South Korea, the United States and Japan.
Frasco is optimistic these figures will increase as business-to-business meetings between sellers and buyers at the PHITEX commence on Sept. 20.
She said the Marcos administration would continue working to transform the Philippines as a “tourism powerhouse in Asia”.
She shared the DOT’s plans and programs aimed at promoting ecotourism, the development of tourism communities across the country, fostering robust private sector participation to promote heritage protection, diversification of the country’s tourism portfolio and other initiatives to benefit tourism stakeholders.
Let me end this piece by asking you readers: What do you think about this recent development? With the likelihood that the Philippines will be able to surpass its 2023 foreign tourist arrivals target of 4.8 million, do you think the number could reach 6 million by the end of the year? Did you notice any positive economic impact from the rising foreign tourist arrivals? If you own a business, did you benefit from foreign tourists’ spending?
In connection to next month’s Barangay and Sangguniang Kabataan Elections (BSKE), the Commission on Elections (COMELEC) turned to operators of digital wallets and online banking and warned them about digital vote-buying, according to a Manila Times news report.
To put things in perspective, posted below is an excerpt from the Manila Times news report. Some parts in boldface…
THE Commission on Elections (Comelec) warned electronic wallet operators they could be involved in vote-buying cases if they allow candidates in the Barangay and Sangguniang Kabataan Elections (BSKE) to use their apps to buy votes.
Comelec Chairman George Garcia said over the weekend that the agency has already informed GCash, Maya and other companies involved in mobile payment services that they may face charges for conspiracy to commit vote-buying.
Garcia said they advised the companies to monitor high-volume transactions, especially in the days prior to election day.The companies were also told to be suspicious when money is sent to 50 to 200 people in one day.
“A red flag would be if someone sent a certain amount of money to a large number of recipients,” Garcia pointed out.
He said companies involved in digital wallets and online banking have vowed to support Comelec’s efforts against vote-buying.
The poll body intends to sign a memorandum of agreement with e-wallet companies, Garcia said.
Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the COMELEC did the right thing to ensure the credibility of the BSKE? Do you think this new move by the COMELEC will prevent vote-buying from happening?
Author Carlo Carrasco 