GSIS partners with USSC in accepting loan payments

State pension fund Government Service Insurance System (GSIS) signed an agreement on recently with Universal Storefront Services Corporation (USSC) in accepting loan payments from GSIS borrowers through its over 800 payment collection sites across the country.

This brings to 6,800, the total number of GSIS’s accredited external payment sites, including the 6,000 branches of Bayad and M. Lhuillier, two other remitting firms earlier authorized by GSIS to accept loan payments from its members.

Like Bayad and M. Lhuillier, USSC will soon receive advance GSIS loan payments as well as for those that are underpaid, delayed, unpaid, or are already in default (unpaid for more than six months).

“This will encourage our borrowers with arrears to update their accounts conveniently. Isa rin ito sa mga paraan para mas mapabuti pa ang aming loan collection efficiency,” GSIS President and General Manager Wick Veloso said.

As of April 24, GSIS has collected more than P346 million for 33,224 transactions through Bayad and M. Lhuillier. Veloso added that GSIS is already in talks with Palawan Pawnshop and SM Corporation to bring the total accredited external service payment providers to over 10,000 outlets.

GSIS borrowers may pay at the nearest USSC outlets and fill out a form with their last name, business partner (BP) number, loan type, and payment amount. The validated USSC form will serve as proof of payment. GSIS loan borrowers who pay through any of USSC’s payment sites will receive a transaction slip to confirm receipt of their payment and a text message on the posting of their payment. They may also validate their payments through their GSIS Touch mobile app account.

“The key driver that USSC strives for is financial inclusion in servicing our customers using effective technology, harness that with the strength of our distribution network to provide customers and beneficiaries with efficient, hassle-free, and pain-free service. We hope to extend the same service to GSIS,” USSC Chief Finance and Administrative Officer Carlos Borromeo said.

For other details, interested parties may visit the GSIS website (www.gsis.gov.ph), or Facebook account (@gsis.ph); email gsiscares@gsis.gov.ph; or call the GSIS Contact Center at 8847-4747 (if in Metro Manila), 1-800-8-847-4747 (for Globe and TM subscribers), and 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N Text subscribers).