Landbank partners with LTO for online payments
Government-owned Land Bank of the Philippines has partnered with the Land Transportation Office (LTO) to provide a faster and more convenient way of paying registration and license fees as well as other dues online.
The facility would initially be available to car dealers for pilot implementation particularly to clients of LTO – National Capital Region (LTO-NCR).
This follows the recent signing of the tripartite agreement among Landbank, the Bureau of the Treasury and LTO-NCR. Under the agreement, LTO-NCR could avail of Landbank’s Link.BizPortal.
The LandBank Link.BizPortal is an internet-based payment channel designed to accept payments of fees, dues, and charges from clients of enrolled merchants from both government and private institutions.
“Apart from providing greater convenience to its clients, this will also help improve LTO-NCR’s operational efficiency by helping reduce foot traffic in its offices and eliminating human intervention in its collection and remittance processes,” Landbank executive vice president Liduvino Geron said.
This is also in line with Landbank’s continuing commitment to contribute to the objectives of the Treasury Single Account to provide the BTr with greater control and oversight over the government’s financial management systems by providing a more efficient and effective cash management and disbursement system.