GSIS Partners with M. Lhuillier to Extend Reach in Visayas and Mindanao

The Government Service Insurance System (GSIS) recently signed a memorandum of agreement with M. Lhuillier Financial Services Inc. to expand its loan payment solutions. Through this partnership, GSIS will now be able to accept loan payments from nearly 5,600 collections across the country. This is relevant for members and pensioners in the provinces.

Present at the signing of the agreement was GSIS president and general manager Wick Veloso as well as M. Lhuillier CEO, Michael Lhuillier. The GSIS noted that at least 40% of its members were located in Visayas and Mindanao. Hence, the services of the social insurance institution will be made more accessible while also complementing its loan collection efficiency.

“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,” elaborated Veloso. M. Lhuillier is among the largest non-bank financial services network in the country with a total of 2,576 branches. It will be joining Bayad Center, another GSIS partner.

To date, the GSIS has collected ₱173 million in loan payments from Bayad Center’s over 3,000 payment centers. Veloso added that they aim to double this figure following the entry of M. Lhuillier. Additionally, the GSIS also accepts the loan payments of members through the online apps 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,” expressed Veloso. In the coming months, the institution also plans to enter into similar agreements with other payment service providers to further expand its channels and improve its customer experience for members.

Sources: PhilStar, Manila Standard