Pag-IBIG Taps Citi for Online Payment
The Home Development Mutual Fund otherwise known as Pag-IBIG Fund has tied up with Citibank to further expand its online payment services to its members using the convenience of their credit cards at an affordable convenience fee.
Pag-IBIG Fund chief executive officer Atty. Darlene Marie B. Berberabe said at yesterday's launch of its newest online payment facility that they are targeting the professionals and the self-employed, including the overseas Filipino workers (OFWs) to avail of this convenient payment service.
The launch of this payment facility is also in time for the recent passage of the Kasambahay Law, which requires employers to pay the mandatory contributions for househelps with government agencies such as Pag-IBIG, PhilHealth and Social Security System. An employer is required to put up a househelp contribution whose salary is below P5,000. For P5,000 and above, the employee has to contribute P100.
"Employers can use their Visa or MasterCard credit cards in settling their househelp's monthly savings, as well as the their counterpart shares so the former can also enjoy the benefits of being a Pag-IBIG member," Berberabe said.
The service can be availed at an affordable convenience pay of P3.60 per P100 contribution as against $6 dollar average remittance fee for an OFW for $2.5 monthly contribution.
Pag-IBIG has 12.6 million, including 3 million OFWs, members. So far, online payments account for less than percent for employees and 2 percent for employers.
Berberabe expressed hope that 20 percent out of the 500,000 self-employed members would avail of this online payment service within the year.
At present, Pag-IBIG has similar arrangements with Metrobank but this is only for their account holders while Lank Bank of the Philippines allows online contribution for employers. …