THE Securities and Exchange Commission (SEC) said on Thursday that it has added new options for its online payment system.

The commission said that this would make payments for registration and transaction fees “faster and more convenient for the public.”

GCash payment wallets can now be used to settle registration and transaction fees and penalties through the Electronic System for Payments to the SEC (eSPAYSEC).

“It has only been a year since we rolled out the eSPAYSEC, but it has already become a preferred payment option for the transacting public because of the convenience and security it offers,” SEC Chairperson Emilio B. Aquino said in a statement.

“This is proof of the public’s readiness to adapt to digital solutions when they are available, and strengthens the Commission’s commitment to its digital transformation initiatives to improve the ease of doing business for Filipinos,” he added.

To use GCash, clients only need to enter the reference number provided in the Payment Assessment Form issued by the SEC, select GCash as their payment option, then provide the required information. Each transaction charges a convenience fee of P10.

Other online payment channels that are accepted by eSPAYSEC include debit and credit cards powered by Visa, Mastercard and JCB, as well as PayMaya wallets.

The eSPAYSEC was launched in March 2021 as a web-based system that allows for the online payment of fees and penalties to the commission using debit and credit cards, digital wallets, and other cashless payment options.

As of June 8, the online payment portal has accepted payments for fees and penalties amounting to P202.32 million from a total of 29,565 transactions. Of the total, P99.57 million was recorded in 2022. — Luisa Maria Jacinta C. Jocson