BSP partners Govt to digitalise payment of non-tax revenue


THE Bank South Pacific (BSP) Financial Group Ltd has partnered the Government Finance to digitalise the payment of non-tax revenue collections.
Finance Secretary Dr Ken Ngangan signed a memorandum with BSP chief executive officer Robin Fleming in Port Moresby on Friday.
He said the initiative would eliminate fraud at collection points and enable efficiency.
“This will see non-tax revenue collection going digital via the BSP payment gateway, including online web server systems, kiosk payment mode and mobile phone banking,” Dr Ngangan said.
Non-tax revenue is collected through Eftpos (electronic funds transfer at point of access) located at Vulupindi Haus, revenue collecting agencies, and districts,
“Going digital will even make our lives a lot easier in terms of collection, and also for those coming in to pay their fee and charges, no more queuing at the Vulupindi Haus,” Dr Ken said.
He said the system would be operational late this year or early next year.
“This partnership will result in improved and timely revenue collection and will be automatically transferred to the consolidated revenue fund,” Ngangan said.
“There won’t be any delays. It will also result in the elimination of fraud (and) theft at our collection points (and) eliminates operation weaknesses of non-attendances and lateness (thus) improving tax collection.”
Fleming said the payment system would make collection, reconciliation and budget planning more efficient.
“The transparency that is associated with revenue collection not only assists with the reconciliation but also from a process perspective, the other government departments which relied on the department of finance to confirm if the receipts have been paid.”’