(Photo credit to: https://philsys.gov.ph)
The Philippine Statistics Authority (PSA) and the Land Registration Authority (LRA) have officially partnered to utilize the National ID authentication services for more secure transactions related to security interests over personal property used as collateral for loans.
Formalized through a contract signing at the LRA office in East Avenue corner NIA Road, Diliman, Quezon City, the partnership marks the integration of the National ID with LRA’s Personal Property Security Registry (PPSR), an online registry enabling an individual or an organization to register or check to see if there are existing claims registered against a property. This allows reliable identity verification for individuals and legal entities involved in PPSR transactions.