GSIS taps M. Lhuillier for payment services

MANILA, Philippines — State-run Government Service Insurance System (GSIS) has tapped M. Lhuillier Financial Services Inc. for its expanded loan payment solutions especially for Filipinos in the provinces.

GSIS, the pension fund for government workers and retirees, has inked a memorandum of agreement with M. Lhuillier, one of the biggest non-bank financial services networks in the country.

The agreement aims to expand the loan payment solutions of the GSIS to nearly 5,600 collection sites.

GSIS president and general manager Wick Veloso said the partnership with M. Lhuillier is strategic given the latter’s presence in Visayas and Mindanao. At least 40 percent of GSIS members and pensioners are in the two regions.

“We are bringing our 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,” Veloso said.

M. Lhuillier now joins Bayad Center in accepting GSIS advance loan payments.

To date, GSIS has collected P173 million in loan payments with Bayad Center’s nearly 3,000 payment centers.

Veloso said GSIS aims to double this with the entry of M. Lhuillier’s payment solutions of over 2,500 centers.

Further, Veloso noted that loan payments from members are now accepted through the online applications 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.