Thursday, 21 January 2010

PhilPost to get wired, to hasten remittances

Ronnel Domingo
Philippine Daily Inquirer
http://globalnation.inquirer.net/news/breakingnews/view/20100120-248336/PhilPost-to-get-wired-to-hasten-remittances

MANILA, Philippines—The money remittance system of the Philippine Postal Corp. may finally go electronic, enabling the state firm to offer the same convenience that private money forwarders do at just about a fourth of the fees charged.

This is made possible with a P1-billion loan that the Social Security System is extending PhilPost through a partnership related to the unified multi-purpose identification (UMID) system.

Top officials of PhilPost and SSS Tuesday inked a pact that widens the coverage of the UMID system.

Before the partnership, the planned UMID covered only four agencies, providing a single ID card for members of the SSS, Government Service Insurance System, Philippine Health Insurance Corp. (Philhealth) and the Home Development Mutual Fund.

SSS is the lead agency in the implementation of the UMID project, which was spelled out in Executive Order No. 420 that was issued in 2005.

The UMID project is supposed to “enhance the integrity” of state-issued ID cards, ease government transactions, cut costs and minimize redundant databases.

Romulo L. Neri, SSS president and chief executive, said the partnership “widens the usage of the UMID card and also paves the way for electronic remittance services for overseas workers through the PhilPost” network, Neri said.

He added that when the UMID system rolled out, SSS members would be able to get payments for pensions, loans and benefits through PhilPost’s nationwide web of some 2,200 post offices.

No comments:

Post a Comment