State-run Social Security System (SSS) announced that it has entered into agreement with Union Bank of the Philippines (UBP) and Rizal Commercial Banking Corp. (RCBC) for the issuance of Unified Multi-Purpose ID (UMID) ATM Pay Cards.
In a statement, Michael G. Regino, SSS president and chief executive officer, said that UBP regular savings accountholders can now link their SSS UMID ATM Pay Cards. And by the first quarter of next year, RCBC will also be ready to issue UMID ATM Pay Cards to SSS members.
“The UMID ATM Pay Card Program aims to promote the accurate and timely payment of SSS benefits and loans to rightful recipients,” Regino said. “It is a step towards the national government, the SSS, and its partners’ shared goals of greater financial inclusion and payments digitalization.”
SSS members can use the UMID ATM Pay Cards as their disbursement account for benefits, loans, and refunds. They can also access the participating banks’ available ATMs and online & mobile platforms.
“Currently, SSS is offering UMID ATM Pay Cards that are linked to a regular savings account, with the Union Bank of the Philippines (UBP) as the first participating bank,” Regino said.
UBP has made ready an initial one million UMID ATM Cards for those who have not been issued the UMID cards.
“The UBP will also allow those with pending generic UMID cards for production to avail of this upgrade for free,” Regino said.
“To do so, they must give their Data Sharing Consent through the Services Tab of their My.SSS Web Portal account and undergo the electronic Know-Your-Customer (eKYC) process through the online or mobile platform of the UBP,” he added.
Members who will avail of said card this year will also receive a P200 Jollibee e-Gift Certificate and the chance to win a Mitsubishi Xpander from the UBP upon the activation of their account and funding it with P1,000. This promo runs up to Feb. 28, 2023.
“In the coming months, we will continue to pursue partnerships with other financial institutions to provide our members with more options for this program,” Regino said.
“As soon as a substantial percentage of the UMID ATM Pay Cards are issued, SSS would start re-carding the rest of the issued 13 million generic UMID cards,” he added.