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Business

Landbank taps MyEG Philippines for e-payments

Lawrence Agcaoili - The Philippine Star
Landbank taps MyEG Philippines for e-payments
Through the partnership, Landbank Link.BizPortal users now have access to MyEG’s roster of e-wallet payment facilities such as GCash, Maya, GrabPay, and ShopeePay to pay various government fees.
BW / File

MANILA, Philippines — State-run Land Bank of the Philippines (Landbank) has partnered with MyEG Philippines Inc. to allow users of a web-based payment channel to pay for products and services online from both the government and private institutions using e-wallets.

Through the partnership, Landbank Link.BizPortal users now have access to MyEG’s roster of e-wallet payment facilities such as GCash, Maya, GrabPay, and ShopeePay to pay various government fees.

These include the police clearance from the Philippine National Police, Overseas Workers Welfare Administration membership as well as other fees from the Department of Labor and Employment, Department of Trade and Industry, and Civil Service Commission.

The Link.BizPortal allows clients to pay for products and services online to over 870 government and private partner merchants nationwide. The volume of transactions jumped 48 percent to 2.8 million, while the value surged 30 percent to P6 billion in the first half of the year.

Meanwhile, cash payment options remain available thru any branches of 7-Eleven, Cebuana Lhuillier, Palawan Express, Bayad Center, SM Malls, Robinsons Department Store, Tambunting Pawnshop, RD Pawnshop, USSC, Posible, DA5, and many others.

Adding these alternative digital payment options would also provide convenience and efficiency to merchants and institutions as well as safer and faster delivery of funds.

Furthermore, the partnership would likewise decrease the direct and indirect costs associated with physical cash or distribution of in-kind goods, establish accountability and tracking of financial flows thereby limiting risks of corruption and theft as well as de-clog lobby traffic and save on operation costs.

Randolph Montesa, senior vice president and digital banking sector officer-in-charge at Landbank, said the state-run bank is fully committed to servicing the growing preference of customers for digital and online payments.

“Together with MyEG, our expanded payment options will significantly contribute to delivering a safer and more efficient way of accepting and processing payments, in line with our broader thrust of serving the nation,” Montesa said.

MyEG PH chief executive officer  Ann Margaret Saldaña said the core mission of the one-stop provider of e-government payment services has always been to serve and support the government and provide them expertise in automating government solutions, managing and processing digital payment transactions.

“As Landbank provides accessible financial services meeting the growing needs of their customers, MyEG is committed to working with Landbank as we activate our E-wallet payment channel to Landbank, providing them our technical, operational, and customer support, and also supporting several of their digital initiatives in the present and in the future,” Saldaña said.

The partnership between Landbank and MyEG PH supports Republic Act 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, which aims to streamline the current systems and procedures of government services.

This is also aligned with Executive Order 170 signed by former president Rodrigo Duterte, which orders all departments, agencies, and instrumentalities of the government, including state universities and colleges and government-owned or-controlled corporations, to adopt digital payments for their disbursements and collections.

LANDBANK

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