The city government of Paranaque will start next week the distribution of P200 million in financial assistance to residents using the Union Bank of the Philippines (UnionBank) online service transaction.
Mayor Edwin Olivarez said eligible residents will receive their respective Union Bank EON VISA Cards after the bank and the city signed an agreement.
The EON account comes with a card that enables the beneficiaries to withdraw the city’s P5,000 cash assistance per household from any automated teller machine or ATM nationwide, or pay for purchases in any online merchant, in establishments or for utility bills.
Olivarez said families who will benefit from the program are those “left-out households” that did not receive any form of cash assistance from the national government under the Social Amelioration Program, Expanded 4Ps, and COVID-19 Adjustment Measures Program of the Department of Labor and Employment.
He said households who did not receive cash from the national government are entitled to P5,000 cash assistance as part of the city’s relief efforts to mitigate the economic impact caused by coronavirus disease 2019 (COVID-19) pandemic.
“A total of 50,000 qualified households will receive a P5,000 cash assistance within the month,” Olivarez assured.
The signing of the agreement realizes their goal to make disbursements of cash aid in this time of pandemic fast and efficient, he said.
Olivarez has emphasized that digital electronic disbursement through transaction accounts, like bank or e- money accounts undertaken by duly authorized financial service providers (FSPs) is the most expedient way to accomplish this task.
Paolo Baltao, UnionBank SVP and head of EON Banking, said they are committed to co-create with the city government of Parañaque in its initiatives towards e-government and a digital economy. “Beyond the technology, we share the dedication to serve and fulfill aspirations,” he said.
Lawyer Melanie Soriano-Malaya, City Data Protection Officer (DPO), said the partnership of the city government and UnionBank is hitting two birds with one stone. “By using online disbursement for
Paraña-cash, we are contributing to the government’s goal to promote the digital economy,” she said.
Malaya said they were able also to improve the city’s responsiveness on various online government services in accordance to data privacy and protection laws.