Power retailer urges clients to pay online

Apart from aggressively tapping thirdparty collection partners, Visayan Electric Company is likewise encouraging consumers to pay their bills online.

Veco president Jaime Jose Y. Aboitiz said that Veco's enrollment to the interconnected ATM networks Bancnet, Megalink and Expressnet, is in preparation for the inevitable shift of the country’s payment culture in the next few years.

Aboitiz added that with the availability of online payment option, Cebuano electric consumers will soon get the hang of online transactions, which has long been practiced in developed countries.

Although the growing 380 thousand Veco customers are still largely paying their bills via physical transaction either in the Veco-owned payment outlet in SM City Cebu, Consolacion and Talisay or accredited TPAs (third-party collection agencies), Aboitiz is confident that online payment will eventually be explored by Cebuano electric consumers.

Other VECO accredited collection partners include M. Lhuillier, Cebuana Lhuillier, 2GO, CIS-Bayad Centers, EC Pay, SM Retail, Star Bayad, and Global Pinoy Remittance and Services.

Internet and ATM access include Unionbank, BPI, Metrobank, Bancnet, Megalink. automatic debit/credit arrangement include Unionbank and Citibank.

"The online payment option is already there, but the trust [in transacting online] is still very low," said Aboitiz.

According to Aboitiz, online system, automatic debit arrangement or credit card arrangements are already laid out by Veco for customers to take advantage of.

He said this is part of Veco's bid to provide convenience to its growing customers.

Veco observed that two years ago 30 percent of its customer base pay through their TPA partners, including online payment partners,

Today, the figure has gone up to 65 percent, while only 35 percent pay through Veco's service centers, more specifically at their SM City Cebu branch.

"While online options already exist, we understand that the trust on online transactions is still very low but we are confident that we are getting closer to that direction," he added.

At present, Veco is servicing to 380,000 customers in its franchise area in Metro Cebu, which covers from Lilo-an to San Fernando. —