SSS members to soon use phones to pay loans

MANILA, Philippines–Members will soon be able to remit their contributions as well as pay their loans to the Social Security System (SSS) using their mobile phones, the state-run pension fund said on Monday.

In a statement, SSS said it had signed a memorandum of agreement (MOA) with G-XChange Inc. last November, which will allow the agency to use the latter’s mobile remittance service dubbed “G-Cash.”

G-Cash is a free mobile application that “serves as a virtual wallet offering users secure, fast and convenient money transfers using mobile phones,” SSS noted. This application is exclusively for use of Globe and TM subscribers.

Under the MOA, SSS members will be able to settle not only their contributions but also loan amortizations.

Members will just be required to undergo a one-time registration, after which they can pay through G-Cash free of charge, SSS said.

“To make payments using G-Cash, SSS members will need to load their G-Cash accounts to cover their payments for contributions and loans. The member will receive a confirmation text message for every successful transaction,” the agency explained.

According to Mario R. Sibucao, SSS vice president for member services, the service can be used by household employers, voluntary members, as well as self-employed individuals such as farmers, fishermen and nonworking spouses.

“We are encouraging our members to register in this new payment facility once rolled out. It promises prompt remittance of their contributions and loan amortizations at their convenience,” Sibucao said.