STATE-RUN Social Security System (SSS) has tapped digital financial services leader PayMaya to allow members to conveniently pay their contributions through the SSS mobile app.
With this partnership, individual members of the pension fund such as Self-employed, Voluntary, and Overseas Filipino Workers (OFW) can now pay their contributions using their PayMaya account or any Visa, Mastercard, or JCB credit, debit, or prepaid card. In the next phase, PayMaya will accept employer’s contributions (regular and household) and salary loan payments.
SSS President and Chief Executive Officer Aurora C. Ignacio and PayMaya Philippines, Inc. Chief Executive Officer Orlando B. Vea formally signed the agreement, making PayMaya as one of the 85 accredited collecting and paying partners of SSS, 35 of which are already Real-Time Processing of Contributions (RTPC) system compliant.
โWe are very glad that we were able to add another accredited collection partner that will ensure fast, convenient and secure way of remitting the hard-earned money of our members for their future contingencies and retirement options to the pension fund,โ Ignacio said.
โThe public has been very much aware that we have been exerting all efforts to make SSS transactions hassle-free through our gradual shift to the digital platforms. This is one of our options to eliminate long queues in automated teller services in branches and other accredited partner agencies. In just one tap on your mobile phones, your contribution payments are remitted to the SSS,โ Ignacio said.
For his part, PayMaya Chief Executive Officer and Founder Orlando Vea said: “Using digital technology in delivering social services to all Filipinos is a big leap for SSS and we are proud that they have tapped us in this initiative. Making public service more accessible to all Filipinos through digital financial services is in line with our thrust at PayMaya to push for digital and financial inclusion.”
PayMaya is providing its universal payments platform to SSS to allow it to accept PayMaya as well as all card and mobile wallet payments through its mobile app and soon in its other online channels and branches.
For those without a card, they can simply sign up for a PayMaya account by downloading the PayMaya app on their iOS or Android devices and use the mobile number associated with their account when they pay via the SSS mobile app.
The Social Security Commission (SSC), the policy-making body of the SSS, approved the accreditation of PayMaya, the digital financial services arm of Voyager Innovations, after it had submitted and passed the standards and requirements of the RTPC system.
Members of the SSS who will use their PayMaya accounts or their debit and credit cards for paying their contributions should first download the SSS Mobile App in Google Play Store, Apple App Store or Huawei App Gallery. They can log-In using their existing My.SSS accountโs user ID and password and generate their Payment Reference Number or Statement of Account in the SSS Mobile App by clicking the โGenerate PRN/SOAโ icon.
After the member has created his PRN, he needs to click the Pay button to display the two options: โPay with PayMaya Accountโ or โCredit/Debit Cardโ.
If the member opted to pay using his PayMaya account, the screen will display the Payment Reference Number, amount, and convenience fee. The member is required to input his email address and password. PayMaya will send a One-Time Password (OTP) to proceed with the payment.
On the other hand, if the member opted to pay using his credit/debit card, the screen will display the monthly contribution, convenience charge and total amount. To complete the payment, the member is required to input the following: First Name, Last Name, Card Number and Expiry Date of the card.
For confirmation of successful payment, a pop-up message will display the PRN, amount, convenience fee and payment reference number. For credit/debit payment, the member has the option to indicate the memberโs email address or mobile number to receive an email notification or Short Message Service (SMS) as confirmation of successful payment.
A convenience fee of 1.75 percent of the total amount to be paid will be charged to the member if he opted to pay using his debit/credit card while a P10 transaction fee will be charged for those who opt to use the e-wallet.
โThis is only the beginning of our continuous effort to provide quality and convenient services to our members. Hopefully, we can soon use PayMaya for loan repayments and payments from employers not only in the SSS Mobile App but also even on the SSS website,โ Ignacio said.
Based on the latest data, the SSS Mobile App has been downloaded 2.93 million times in Google Play Store, Apple App Store and Huawei App Gallery as of November 2019.
Aside from PayMaya, SSS members may pay their contributions conveniently thru online transactions offered by partner-banks and other collection partners. For the official list of online payment channels, members may visit the SSS website.|-BALIKAS News Network