In the Philippines in July, the Government Service Insurance System (GSIS) will introduce an Electronic Billing and Collection System (eBCS). The web-based application will enable GSIS to send its billing statements for premium and loan amortization to government agencies electronically, and accept payments online.
The eBCS will be used by government who approving and remitting payments to GSIS, specifically the finance and electronic remittance file officers, or those who prepare the agency’s electronic remittance file (ERF) which contains the list of members and their monthly remittances. The system will allow government agencies to download GSIS billing statements, upload the ERF and review the account history of members.
It will also generate reports that will enable agency remitting officers to check, update data and correct errors right away, before remitting payments online, making their jobs easier and faster.
“The online billing and electronic payment will save GSIS millions of pesos in postage and courier expenses as files will change hands electronically at no cost,” GSIS President and General Manager Robert G. Vergara said.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.
