August 17, 2019
THE Home Development Mutual Fund (Pag-IBIG Fund) has launched an improved version of its discount and rewards card — now called the Pag-IBIG Loyalty Card Plus — which its top executives say comes with the added feature of a cash card.
“The new and improved Pag-IBIG Loyalty Card Plus can now be used as a cash card where borrowers can receive the proceeds of their multipurpose loans, MP2 dividends and other benefits,” said Secretary Eduardo del Rosario, chairman of the Housing and Urban Development Coordinating Council and the Pag-IBIG Fund Board of Trustees.
“It’s easier, because they don’t have to wait for checks to clear anymore and the proceeds of the loan can be withdrawn [from] ATMs (automated teller machines). This is a welcome addition to our existing cash cards available to members applying for multipurpose loans,” he added.
“It’s one of our many ways to simplify our processes and hasten the delivery of service as we continue to heed the call of President Rodrigo Duterte for [the] government to use electronic means to achieve faster transactions.”
To enable the cash card feature, Pag-IBIG Fund partnered with some of the biggest names in the banking industry. As of writing, it has inked deals with Union Bank of the Philippines and Asia United Bank. The agency is still looking to partner with more banks.
Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said the Pag-IBIG Loyalty Card Plus can also be used as a debit card for cashless transactions and is equipped with an EMV chip — the same technology used in debit and credit cards — to ensure secure transactions.
He also said the improved card is now printed on site, which means members can get their card instantly in the Pag-IBIG Fund branch where they applied.
Moti reported that, upon resuming the enrolment for the card on July 15, the Fund already issued 9,955 new cards within three weeks. In that time, multipurpose loans amounting to P24.77 million were disbursed to 1,505 borrowers using the Pag-IBIG Loyalty Card Plus.
“As always, they can enjoy the same rewards and big discounts from our more than 300 partner-establishments. With discounts ranging from 5 to 50 percent, cardholders can save on groceries, fuel, tuition fees, hospital bills, medicines, and even food and travel expenses,” the Pag-IBIG CEO said.
“For now, the card is available in the National Capital Region, but we are working hard to have it available nationwide soonest,” he added.
The Pag-IBIG Loyalty Card Plus can also be used to access the agency’s soon-to-be launched Virtual Pag-IBIG, an online service that will allow its members to conduct transactions anytime, anywhere.
“We’re excited to launch the Virtual Pag-IBIG. We believe it will be a game-changer for online services and it will answer our members’ call for more convenient access to Pag-IBIG Fund’s programs and benefits. Abangan [ninyo] po (Wait for it). This is just one of the ways we continue to extend the Lingkod Pag-IBIG brand of service: Tapat na serbisyo, mula sa puso (Honest service from the heart),” Moti said.
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