PSBank partners with ECPay for loan payment
MANILA, Philippines – The Philippine Savings Bank (PSBank) has partnered with the country’s leading digital payment service provider, Electronic Commerce Payments Inc. (ECPay), enabling customers to repay their loans through the 3,000 7-Eleven branches in all the countries.
Noel Tuazon, senior vice president and head of marketing group at PSBank, said the merger allows PSBank customers to pay for their auto, home, personal and business flexi loans through the nation’s largest convenience store chain.
“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 ” , Tuazon said.
As part of the partnership, PSBank customers could simply use the CLiQQ kiosk, select bill payment, loans, and then PSBank, while the second option is more viable for people on the go where customers can complete a similar transaction n anywhere, anytime using the 7-Eleven CLiQQ app for free download on their smartphones.
Following the same process, customers simply 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.
Only loan accounts with an active, current, or updated status are eligible for payments through 7-Eleven. Customers can make partial payments on or before their due date.
Payments made before 11:30 p.m. weekday cut-off time will be processed and charged to the account during the day, while payments made on weekends or holidays will be charged at the end of the next business day. 7-Eleven only accepts cash payments.
Customers can pay up to P 10,000 per transaction if initiated using the CLiQQ kiosk machine and up to P 50,000 per transaction through the CLiQQ app.
Payments for PSBank loans through ECPay through its merchant partner 7-Eleven, joins a suite of loan payment options that PSBank customers can access, including PSBank Mobile, PSBank Online, InstaPay, PESONet, GCash, ATMs PSBank, ATMs of BancNet member banks and for business accounts via Business Online Buddy.
All of these are accessible without having to visit a PSBank branch as part of the bank’s promise of a seamless and convenient banking experience for customers.
“We are constantly looking for ways to meet the changing needs of our customers. 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 while expanding our network of electronic payment partners, ”said Tuazon.