Aims to optimize the use of technology and innovative payment system for financial transactions, to strengthen financial inclusion and to facilitate transactions, arrangements, or exchange of goods and services.Defines several terms such as Access Device, Electronic Money, Electronic Money Issuer (EMI), Merchant and Payment System.Intends to mandate NGAs, GOCCs, and LGUs to utilize e-money among the medium of exchanges in the collection of taxes, fees, tolls, imposts and other revenues and in the payment of goods, services and other disbursements by creating their respective e-money technical support and maintenance service responsible for troubleshooting and maintaining coordination with the EMI partner.Proposes that LGUs shall require merchants within their localities to obtain and maintain e-money payment system capability in carrying on their businesses as a pre-requisite for the approval or renewal of their business permits and provides that the merchant concerned shall show to the satisfaction of the LGU that a functional e-money payment system accessible by mobile phone or other access devices is installed or provided by a duly registered EMI.