PSBank partners with ECPay for loan payment

MANILA, Philippines — Philippine Savings Bank (PSBank) has partnered with the country’s leading digital payment service provider Electronic Commerce Payments Inc. (ECPay), allowing clients to pay their loans through the 3,000 7-Eleven branches nationwide.

Noel Tuazon, senior vice president and marketing group head at PSBank, said the tie-up allows PSBank customers to pay their auto, home, flexi personal, and business loans through the biggest convenience store chain in the country.

“As more Filipinos turn to technology to handle their financial transactions, we are committed to develop new ways for them to manage their finances. By leveraging the reliable technology of ECPay and the ubiquitous presence of 7-Eleven, we are able to reach more customers and make their financial transactions as fast, simple and reliable as our in-branch and mobile options,” Tuazon said.

Under the partnership, PSBank clients could simply use the CLiQQ kiosk machine, select bills payment, loans, and then PSBank, while the second option is more viable for on-the-go individuals wherein customers could make a similar transaction anywhere, anytime using the free-to-download 7-Eleven CLiQQ app on their smartphones.

Following the same process, customers just need to visit a 7-Eleven branch to present the barcode generated on their app for validation, pay the amount due, and get the official receipt.

Only loan accounts with active, current, or updated status are eligible for payments through 7-Eleven. Customers may make partial payments on or before their due date.

Payments made before 11:30 p.m. cut-off time on weekdays will be processed and posted to the account within the day, while those settled on weekends or holidays will be posted at the end of the next banking day. 7-Eleven only accepts cash payments.

Customers may pay up to P10,000 per transaction if initiated using the CLiQQ kiosk machine and up to P50,000 per transaction via the CLiQQ app.

Payments for PSBank loans via ECPay through its merchant partner 7-Eleven, joins a suite of loan payment options that PSBank customers can access, including PSBank Mobile, PSBank Online, InstaPay, PESONet, GCash, PSBank ATMs, BancNet-member banks’ ATMs and for corporate accounts via Business Online Buddy.

All these can be accessed without having to visit a PSBank branch as part of the bank’s promise of a seamless and convenient banking experience for customers.

“We are constantly looking for ways to serve our clients’ evolving needs. Our partnership with ECPay is just the latest initiative for a better banking experience. We will continue to upgrade and develop our products and services as we expand our network of electronic payment partners at the same time,” Tuazon said.