The NBI urged caution over fintech claim auctions
The National Bureau of Investigation (NBI) is being asked to exercise caution in awarding the contract for its digital payment requirements as one of the top bidders is laden with questions about its technological and financial capacity.
Good governance lawyer and former lawmaker Jericho Nograles appealed to the NBI to choose its financial technology (fintech) vendor, saying one of the participants in the auction has a track record full of irregularities.
The NBI is in the process of auctioning off a contract for a fintech player to provide it with digital payment solutions for issuing the NBI approval.
“We received reports that PisoPay is a frontrunner in the auction for the fintech claims of the NBI. I am alarmed that PisoPay is still allowed to deal with the government despite being the main proponent of a fiasco with another line agency,” said Nograles.
In November 2021, Nograles led the Congressional investigation into the irregular contract between the Bureau of Quarantine (BOQ) and PisoPay. It was revealed that PisoPay overcharged consumers in convenience fees to pay for the International Certificate of Vaccination, or what is commonly referred to as the ‘yellow card’.
PisoPay did not go through the required tender process, Congressional inquiries revealed. PisoPay’s net financial capacity was also unable to enter into contracts with the authorities.
This led BOQ to drop the contract with PisoPay.
According to Nograles, PisoPay’s convenience fee is too high, considering the effects of inflation on the common Pinoy. PisoPay asks the NBI for P40 per transaction on top of the NBI processing fee of P130.
Also, PisoPay’s service kiosks have limited capacity – that although they can accept applications, they cannot print the approval itself. The applicant must still go to the NBI office to collect the printed material.
“The NBI should learn from the government’s past experience with fintech companies laden with irregularities. I humbly urge the NBI to closely monitor this auction to ensure that no injustice will be done to the Filipino people,” Nograles said.
