Philippine Savings Bank (PSBank) announced that it has entered into a new partnership with Electronic Commerce Payments Inc. (ECPay) to enable its customers to repay their loans at convenience stores nationwide.
PSBank said its partnership with ECPay gives the bank’s customers access to payment settlement for auto loans, home loans, Flexi personal loans and business loans through 7-Eleven, one of the merchant partners of ‘ECPay. 7-Eleven has more than 3000 branches across the country.
The bank said that PSBank customers will have two ways to initiate payment via ECPay through 7-Eleven.
First, customers can use the CLiQQ kiosk in 7-Eleven branches, select “Bill payment”, “Loans”, then “PSBank”. From there, they will need to enter their loan account number, cell phone number, and amount owed.
The cashier will provide an electronically generated official receipt, which will serve as proof of payment. Only payment receipts validated by machine or an electronic acknowledgment of receipt will be honored by the Bank.
The second option is more viable for people on the go. They can perform a similar transaction using the 7-Eleven CLiQQ app on their smartphone. Following the same process, customers will need to go to a 7-Eleven branch to present the barcode generated on their app for validation, pay the amount due and get the official receipt.
Customers can pay up to P 10,000 per transaction if initiated using the CLiQQ kiosk
machine and up to 50,000 P per transaction via the CLiQQ app.
“As more Filipinos turn to technology to manage their financial transactions, we are committed to developing new ways for them to manage their finances. By leveraging ECPay’s reliable technology and 7-Eleven’s ubiquitous presence, we are able to reach more customers and make their financial transactions as fast, easy and reliable as our in-branch and mobile options ” , PSBank Senior Vice President & Head of Marketing Group, Noel Tuazon, said.
“Our partnership with ECPay is just the latest initiative for a better banking experience. We will continue to upgrade and develop our products and services, as we expand our network of
electronic payment partners at the same time, ”he added.