BENEFICIARIES of the Pantawid Pamilyang Pilipino Program (4Ps) in Parañaque City started to receive their cash grants online through Land Bank of the Philippines (LandBank) cash cards, the bank said last Wednesday.
In partnership with the City Government of Parañaque and the Department of Social Welfare and Development (DSWD), the LandBank said they have successfully disbursed cash grants worth P28 million to 7,118 4Ps beneficiaries in the city through their LandBank cash cards on May 6 and 18.
“Since the start of the Covid-19 pandemic, LandBank has worked closely with various government partners for the immediate and efficient distribution of cash subsidies,” LandBank President and CEO Cecilia C. Borromeo said.
The partnership for the online distribution of the cash aid was formalized through a memorandum of agreement (MOA) signed between Borromeo, Parañaque City Mayor Edwin L. Olivarez and DSWD Secretary Rolando Joselito D. Bautista last April 23.
Under the agreement, LandBank facilitated the crediting of financial assistance to the cash card accounts of qualified 4Ps beneficiaries based on the list provided by the Pantawid Pamilya Information System (PPIS) of the DSWD.
The bank also reported that it has continued to record a usage surge for its digital and e-banking channels since health and mobility restrictions were implemented last year.
In particular, in the first four months of the year, the bank said its five major electronic channels—Mobile Banking App, Electronic Modified Disbursement System (eMDS), Link.BizPortal, iAccess, and weAccess—facilitated a total of 38.89 million transactions amounting to P642.68 billion.
These represent increases of 12 percent and 55 percent year-on-year for volume of transactions and value, respectively.
“We will continuously leverage on our digital and online platforms to facilitate a safe and secure mode of delivering social amelioration programs,” Borromeo said.