BSP Financial Group Limited (BSP) and the Department of Finance have signed a Memorandum of Understanding (MoU) to allow the government to raise non-tax revenue through a digital payment solution.
This is the first such MoU with any government agency, according to BSP Group CEO Robin Fleming.
“These payment gateway modes would appropriately suit different paying sectors of the population of which some are rural-based suited with mobile payment mode and Kiosk which would be made available in all-cash offices and popular and common public access points, while online will suit city residents and overseas paying clients,” Fleming said.
This Digital Payment Solution will be used to pay for non-tax costs such as police clearance, warrants, bails, visas and renewals, property leases, resettlement facilities fees and job permits, coal and petroleum discovery licenses, petroleum production and production licenses, among other domestic recurring fees and charges.
The Payment Solution, according to BSP General Manager Digital Nuni Kulu, would allow for direct payment tracing, expand the government's payment scope across the world, save time and money while improving consumer engagement and government service delivery.
“The Department of Finance’s Website Portal is custom-made to capture a wide range of government services, boosting revenue generation and drive cashless transactions through online payments,” Kulu added.
Dr. Ken Ngangan, the Finance Secretary, stated that the payment solution would result in the timely recovery of non-tax revenue and would boost the government's revenue collection activities in order to fulfill the government's budget needs.
