Digital asset trading platform Coins.ph urged local government leaders to modernize public payment systems, warning that slow and manual processes are quietly draining public resources.
Wei Zhou, CEO of Coins.ph, raised the issue during the 2026 Philippine Councilors League National Congress and 1st Quarterly Continuing Local Legislative Education Program, where thousands of local legislators gathered to discuss governance and policy.
Zhou said inefficiencies in traditional payment and collection systems act as an “invisible tax” on communities. According to a 2024 report by the Bangko Sentral ng Pilipinas (BSP), digital payments already account for 57.4% of retail payment volume in the Philippines, showing that many Filipinos are ready for faster transactions.
Manual systems, Zhou said, often require lengthy reconciliation processes and delay financial reporting. These systems also depend on physical cash handling, which carries operational and security risks.
“Even a 1% inefficiency in a ₱500 million revenue base equals ₱5 million,” Zhou said. “We must ask ourselves: How many scholarships is that? How many classrooms could that build? How many families could be supported? Small percentages become real consequences.”
Zhou pointed to the growth of interoperable payment systems as proof that digital adoption is accelerating. Coins.ph reported that monthly QR Ph transactions processed on its platform increased from ₱559 million to ₱29.95 billion within 12 months in 2025.
He said digital payment systems can help local government units improve several key areas, including revenue collection, public assistance distribution, and operational continuity during emergencies.
For example, digital payments can streamline the collection of business permits and real property taxes, reducing long queues in city halls. Digital disbursement systems can also allow aid and social services to reach beneficiaries faster and with clearer records.
“Modernization will happen; the question is timing,” Zhou said. “Design decisions are leadership decisions. I invite our local leaders to lead this change and make public services more efficient, resilient, and inclusive for every Filipino.”