DOF cites UnionBank, other private companies’ help for effective digitized subsidy program
CITY OF SAN FERNANDO---The Social Security System (SSS) disclosed that the SSS Mobile App recorded nearly 22.4 million transactions from its members for the first half of 2020.
SSS President and Chief Executive Officer Aurora C. Ignacio said that the pension fund's mobile application facilitated 22,363,413 transactions from January to June 2020, with an average of 124,24 transactions daily.
Launched in 2018, the SSS Mobile App is a free downloadable app for smartphone users. It is designed to provide a more convenient way for members to transact with SSS without the hassle of queuing in the branches. In 2010, SSS also had implemented the Text-SSS facility for members to obtain information on their contributions and loan records. A member may register in Text-SSS by sending their SSS number and birthdate using the format "SSS REG < SS Number> < MM/ DD/ YY> " to 2600.
"We are delighted that our members and employers have been using this app with their various SSS transactions, which is user-friendly and easy to access. Members can now view their contributions record, membership information, and SSS branches' location. They can also check the status of their benefit claim and salary loan applications, their remaining loan balance, and update their contact information as well. Through the years, we have incorporated other services in the SSS Mobile app, like the generation of Payment Reference Number (PRN) needed for SSS contribution payment and filing of maternity notification for female SSS members. They can also pay their contributions using PayMaya through the SSS Mobile App,” Ignacio added.
"Among the transactions on SSS Mobile App, checking member's salary loan status garnered the highest number of transactions. From January to June 2020, the SSS Mobile App recorded 7,628,068 transactions on salary loan status," Ignacio added.
Meanwhile, Ignacio revealed that the SSS Mobile App is among the most downloadable applications in its category on Google Play Store, Apple's App Store, and Huawei AppGallery. As of July 2020, SSS Mobile App accumulated 7,485,817 downloads in the three mobile app markets.
The SSS Mobile App ranked as the most downloadable free app in Google Play Store under the productivity category, with 6,032,977downloads from Android phone users. It is among the top three most downloadable under the utilities category in Apple's App Store, with 726,840 downloads from iOs phone users. Likewise, the mobile application is the third most downloadable app under the finance category among Huawei users, with 726,000 downloads.
CITY OF SAN FERNANDO---Department of Finance (DOF) Secretary Carlos Dominguez recently cited the help being extended by the private sector, including Union Bank of the Philippines (UnionBank), in the digitization of the government’s subsidy programs.
In a Cabinet meeting last August 25, Dominguez said to ensure the proper disbursement of cash aid to beneficiaries, distribution should be done via the banks and with the help of experts from the private sector such as UnionBank.
The finance chief presented to President Rodrigo Duterte few best practices that the government should implement in its future subsidy programs, namely digitization of such programs, direct distribution of aid to the bank or e-wallet accounts of intended beneficiaries, and close administrative oversight of critical steps of the pr ogr am.
He said the expertise of private institutions is needed so that the government can effectively address any problem it might encounter when it comes to the implementation of cash aid distributions. UnionBank, the Philippines’ leading digital bank and ranked as the second most helpful bank in Asia-Pacific during COVID-19, has been actively helping a number of government organizations in digitizing many of their essential services as part of the bank's contributions to nat i on-bui l di ng.
In early August, the city government of Paranaque partnered with UnionBank through its neo-banking arm EON for the Paraña-Cash Assistance Program, wherein they distributed EON cards that contained P5,000 worth of COVID-19 cash relief each to more than 50,000 beneficiary househol ds.
In 2019, UnionBank was tapped by the Bureau of Internal Revenue for a new tax payment system that lets taxpayers pay their dues without needing to go physically to a BIR payment cent er.
Later in the same year, the Government Service Insurance System (GSIS) entered a service-level agreement with the bank to enable GSIS housing loan borrowers