Filipino fintech strengthens platform for more OFW collection services

Published June 7, 2021, 4:00 PM

by Bernie Cahiles-Magkilat

Filipino-fintech company Ventaja International Corp., the government’s pioneer collection partner for overseas Filipino workers’ contribution and payments to pension funds, has announced a complete overhaul of its platform to expand its services to more Filipinos.

“The company is overhauling its entire software platform to make it easier for other fintechs to integrate Ventaja’s services, and to onboard new billers and merchants,” said Vincent Grey, Ventaja founder and CEO.

Ventaja Logo

In terms of reach, Grey said that Ventaja will not stop until all OFWs can pay their SSS contributions or Pag-IBIG amortizations from wherever they are.

“We are committed to making government payments accessible to all OFWs. We want to empower OFWs; to make it possible for them buy homes and save for retirement,” said Grey, adding “Ventaja continues to grow and innovate.”

Launched in 2004, Ventaja International Corporation began operations as a PEZA-registered IT company. The company developed platforms to serve the huge demand for long distance calls by exporting telecom prepaid cards from the Philippines to Filipino migrant workers based overseas.

In 2007, the company achieved another milestone. Ventaja was the first company to collect SSS contributions and loan payments electronically from OFWs. Prior to Ventaja, it would take 6 months for SSS to record paper-based contributions from OFWs. Ventaja made it possible for all payments to be posted within a couple of business days.

In 2009 and 2011, Ventaja started accepting payments for Pag-IBIG and Philhealth, respectively. And in 2015, Ventaja made it possible for OFWs to shop online and pay with cash at remittance centers across the world. Ventaja’s online merchant partners include Cebu Pacific and Goldilock’s.

Over the years, Ventaja strived to expand its network of collection agents in the Middle East, Asia and Europe. As this network grew, so did collection volumes. Ventaja has been the largest collection partner for the Philippine government for many years now, and has received several awards in the process.

Ventaja, which is part of the Advantage Group, is in Social Security System’s Hall of Fame for consistently being the Best OFW Collecting Partner. Pag-IBIG recognized Ventaja as their Top Performer in 2019; while Philhealth gave Ventaja an Exemplary Performance Award in 2018.

Ventaja is a remittance licensed from the Bangko Sentral ng Pilipinas. The company’s services and payment platforms bridge the gap between Filipino migrant workers and the institutions or merchants that serve them.