This idea is terrible and an abuse of tax payer's money.

Not only it engages the use of private corporations to handle it.

It is apparently trying to copy China's way of e-money only transactions so the government can track your purchases.
This is the start of a dictatorial communist style tracking of money and end of privacy.
Any person worth their salt must fight this system or else eventually you will have no way to have physical cash as the government will control all aspects of money flow.
This is how population lose their freedom, when they give all of it up in the case of convenience to the government.
What PH is doing is stripping all your freedom and hand it over to the government.
This is the beginning of a totalitarian governance and PH is aping the prophecies listed in various novels that predicted this.

It is amounting to declaration of war to the population.
They're using YOUR tax money against you, to curtail your freedom.