Connect with us

Hi, what are you looking for?


GSIS partners with M. Lhuillier to expand loan payment channels

GOVERNMENT SERVICE Insurance System has partnered with M. Lhuillier Financial Services, Inc. to expand its loan payment solutions. — REUTERS

GOVERNMENT SERVICE Insurance System (GSIS) has tapped M. Lhuillier Financial Services, Inc. to expand its loan payment solutions to about 5,600 collection sites.

GSIS and M. Lhuillier signed a memorandum of agreement on the partnership on Tuesday at the GSIS head office in Pasay City, the pension fund said in a statement on Wednesday.

The partnership will allow GSIS members to pay their loan dues via M. Lhuillier’s 2,576 branches nationwide.

The company joins the CIS Bayad Center, Inc., which also accepts GSIS loan payments via its 3,000 payment centers.

To date, Bayad has collected P173 million in GSIS loan payments.

“We hope to double this feat with M. Lhuillier’s payment solutions of over 2,500 centers,” M. Lhuillier President and Chief Executive Officer Michael Lhuillier was quoted as saying, referring to Bayad’s collections.

“We are honored to be a part of the GSIS payment platforms for the greater convenience of its members and pensioners. We look forward to growing this partnership. Lahat pwede or what we call ‘pwede-bilities’ when you partner with M. Lhuillier,” Mr. Lhuillier added.

GSIS President and General Manager Jose Arnulfo A. Veloso said their partnership with M. Lhuillier will allow the state-run pension fund to leverage on the company’s strategic presence in the South, as 40% of its members and pensioners are in the Visayas and Mindanao.

“We are bringing our ginhawa services closer to our members and pensioners by engaging more payment channels so that our stakeholders need not visit our offices. This will also complement GSIS’s efforts to improve our loan collection efficiency,” Mr. Veloso said.

The official said aside from physical channels, GSIS members can also pay their dues via the mobile apps of UnionBank of the Philippines, Inc. and Land Bank of the Philippines.

“This means more GSIS funds can be made available for our members and pensioners who are in need,” Mr. Veloso added.

“We plan to enter into similar agreements with other payment service providers in the coming months to bring our payment channels to 10,000 over-the-counter and online outlets to enhance our customer experience,” he said.

GSIS booked a net profit of P595.81 billion in 2021, a turnaround from the P94.18-billion loss it posted in 2020. — D.G.C. Robles

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



PHILIPPINE STAR/ MICHAEL VARCAS WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global...


Buildings are seen along EDSA in Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded...


Heavy traffic is seen on the southbound lane of EDSA in Cubao, Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN THE PHILIPPINE auto industry’s...


REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected...


Vendors arrange their goods at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE ASIAN Development Bank (ADB) is planning to...

Editor’s Pick

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.