THE GOVERNMENT Service Insurance System (GSIS) has signed a memorandum of agreement (MoA) with payment solutions provider Dragonpay to expand digital payment channels for the state pension fund’s members.
“What we have just signed is proof of GSIS’ commitment to provide ease of doing business for our members and pensioners,” GSIS President and General Manager Jose Arnulfo “Wick” A. Veloso said in a statement on Thursday.
Signed on July 16, Dragonpay will add to GSIS’ roster of payment partners including Bayad Center, MLhuillier, Maya, UnionBank of the Philippines, and Land Bank of the Philippines.
Under the agreement, Dragonpay will provide electronic payment channels for the collection of GSIS loan repayments, accessible through the GSIS Touch app and designated GSIS information booths during the launch.
GSIS and Dragonpay will also integrate their systems, including the establishment of technical specifications, reporting protocols, and regular testing to ensure accountability.
“Dragonpay is required to submit daily reports and proof of transactions, which GSIS will verify against settlement records,” GSIS said.
“Both parties have committed to fully comply with the Data Privacy Act of 2012, and relevant regulations of the Bangko Sentral ng Pilipinas and the Commission on Audit. Robust security protocols will be enforced to protect the confidentiality and integrity of all personal and financial data.”
The state pension fund said any convenience fees will be shouldered by the payors, based strictly on agreed terms, with all charges to be disclosed at the point of transaction.
“At GSIS, we are always finding new ways to use technology to serve our members better. This partnership with Dragonpay is another milestone toward faster, more convenient, and more secure service for everyone we serve,” Mr. Veloso said. — Aaron Michael C. Sy