The Land Bank of the Philippines (LANDBANK) has partnered with MyEG Philippines, Inc. (MyEG PH) to allow users of the Link.BizPortal facility to pay for products and services online from both the government and private institutions using E-Wallets.
Through this partnership, LANDBANK Link.BizPortal users will now have access to MyEG’s roster of E-Wallet payment facilities such as GCash, Maya (formerly known as PayMaya), GrabPay, and ShopeePay to pay for Police Clearance from the Philippine National Police (PNP), Overseas Workers Welfare Administration (OWWA) Membership, and other government fees from the Department of Labor and Employment (DOLE), Department of Trade and Industry (DTI), and Civil Service Commission (CSC), among others.
Meanwhile, cash payment options remain available thru any branches of 7-Eleven, Cebuana Lhuillier, Palawan Express, Bayad Center, SM Malls, Robinsons Department Store, Tambunting Pawnshop, RD Pawnshop, USSC, Posible, DA5, and many others.
Adding these alternative digital payment options will provide convenience and efficiency to merchants and institutions, as well as safer and faster delivery of funds. The partnership will likewise decrease the direct and indirect costs associated with physical cash or distribution of in-kind goods; establish accountability and tracking of financial flows thereby limiting risks of corruption and theft, as well as de-clog lobby traffic and save on operation costs.
“LANDBANK is fully committed to servicing the growing preference of customers for digital and online payments. Together with MyEG, our expanded payment options will significantly contribute to delivering a safer and more efficient way of accepting and processing payments, in line with our broader thrust of serving the nation,” said LANDBANK Digital Banking Sector OIC, Senior Vice President Randolph L. Montesa.
“Our core mission has always been to serve and support the government and provide them our expertise in automating government solutions, managing and processing digital payment transactions,” said MyEG PH Chief Executive Officer Ann Margaret Saldaña. “As LANDBANK provides accessible financial services meeting the growing needs of their customers, MyEG is committed to working with LANDBANK as we activate our E-Wallet payment channel to LANDBANK, providing them our technical, operational, and customer support, and also supporting several of their digital initiatives in the present and in the future.”
The partnership between LANDBANK and MyEG PH supports Republic Act 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, which aims to streamline the current systems and procedures of government services, as well as Executive Order 170 signed by former President Rodrigo Duterte, which orders all departments, agencies, and instrumentalities of the government, including state universities and colleges and government-owned or-controlled corporations, to adopt digital payments for their disbursements and collections.
The Link.BizPortal is LANDBANK’s web-based payment channel that allows clients to pay for products and services online to over 870 government and private partner merchants nationwide. It facilitated 2.8 million transactions with a total value of P6 billion for the first six months of 2022, which translates to year-on-year increases of 48% and 30%, respectively.