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Manila Bulletin devider Business devider GSIS expands loan payment solutions

GSIS expands loan payment solutions

Published Sep 8, 2022 12:05 pm

State-run Government Service Insurance System (GSIS) has partnered with M. Lhuillier to expand the pension fund's loan payment solutions.

In a statement on Thursday, Sep. 8, the pension fund for government workers said a memorandum of agreement was signed by GSIS President and General Manager Wick Veloso and M. Lhuillier President and Chief Executive Officer Michael Lhuillier last Tuesday.

M. Lhuillier is one of the biggest nonbank financial services network in a country with 2,576 branches located in cities, towns, and far-flung barangays all over the country.

“We welcome this partnership with M. Lhuillier particularly its strategic presence in the South as 40 percent of our members and pensioners are in Visayas and Mindanao,” Veloso said.

“We are bringing our ginhawa services closer to our members and pensioners by engaging more payment channels so that our stakeholders need not visit our offices. This will also complement GSIS’s efforts to improve our loan collection efficiency,” he added.

“We are honored to be a part of the GSIS payment platforms for the greater convenience of its members and pensioners. We look forward to growing this partnership. Lahat pwede or what we call ‘pwede-bilities’ when you partner with M. Lhuillier,” Lhuillier. Said.

M. Lhuillier now joins Bayad in accepting GSIS advance loan payments. To date, it has collected P173 million in loan payments with Bayad’s nearly 3,000 payment centers.

Veloso said he hopes to double this feat with M. Lhuillier’s payment solutions of over 2,500 centers.

“Loan payments from members are also now accepted through the online apps of Union Bank of the Philippines and Land Bank of the Philippines. This means more GSIS funds can be made available for our members and pensioners who are in need,” Veloso said.

“We plan to enter into similar agreements with other payment service providers in the coming months to bring our payment channels to 10,000 over-the-counter and online outlets to enhance our customer experience,” Veloso added.

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