Another milestone in local e-payments and transaction convenience was reached as state-run Social Security System (SSS) taps digital financial services leader PayMaya for member contributions and payments through the SSS mobile app.
SSS President and Chief Executive Officer Aurora C. Ignacio and PayMaya Philippines, Inc. Chief Executive Officer Orlando B. Vea formally signed the agreement last December 18, which was held at the SSS head office in Quezon City.
“We 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,” Ignacio said.
Ignacio adds, “The 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.”
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.”
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. This makes PayMaya one of the 85 accredited collecting and paying partners of SSS, 35 of which are already Real-Time Processing of Contributions (RTPC) system compliant.
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.
How does it work?
Once the app is installed, follow these steps to proceed with your payment/s:
- Members need to log-In using their existing My.SSS account’s user ID and password.
- Generate the Payment Reference Number or Statement of Account in the SSS Mobile App by clicking the “Generate PRN/SOA” icon.
- After PRN is created, click the Pay button and two options will be presented: “Pay with PayMaya Account” or “Credit/Debit Card”.
- If member opted to pay using PayMaya account, the screen will display the PRN, amount, and convenience fee. The member needs to input email address and password. PayMaya will send a One-Time Password (OTP) to proceed with the payment.
- If member opted to pay using credit/debit card, the screen will display the monthly contribution, convenience fee and total amount. To complete the payment, the member needs to input the following: First Name, Last Name, Card Number and Expiry Date of the card.
- 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 member’s email address or mobile number to receive an email notification or SMS as confirmation of successful payment.
- The convenience fee to be charged depends on the payment mode selected:
- If mamber opted to pay using debit/credit card, this is computed as 1.75 percent of the total amount to be paid.
- If member opted to use e-wallet, P10 transaction fee will be charged.
“This 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,” SSS CEO Ignacio said.
As of November 2019, the SSS Mobile App has been downloaded 2.93 million times in Google Play Store, Apple App Store and Huawei App Gallery.
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.