LandBank in partnership with a private company for the LGU digital payment solution

THE Land Bank of the Philippines Inc. (LandBank) has partnered with software solutions company Multisys Technologies Corp. to provide local government units (LGUs) with an efficient digital solution for payment and collection of local fees and charges.

As part of the partnership, the public bank’s LandBankPay all-in-one mobile wallet will be integrated with Multisys’ Smart City app, to allow residents to settle their financial obligations to LGUs without visiting local offices. .

These financial obligations include the payment of property tax, business tax, community tax certificate, local civil status, sanitary and commercial authorizations and licenses.

LandBank President and CEO Cecilia C. Borromeo and Multisys President and CEO David L. Almirol Jr. led the Memorandum of Understanding (MOA) signing ceremony on May 24 last at Landbank Plaza in Malate, Manila, to formalize the partnership. They were joined by LandBank senior vice president Randolph L. Montesa and Multisys e-government chief Lyka R. Pelonio.

“The integration of LandbankPay and the Smart City app will help increase LGU collection rates and generate long-term operational cost savings,” Borromeo said. “Most importantly, we will provide more convenience and security for residents when paying local government fees.”

Almirol said the Smart City app is now in use in 75 LGUs nationwide, with the company set to expand its rollout this year.

The MOA also covers the integration of LandbankPay with other similar applications that Multisys may develop in the future, in which the LandBank application will function as the main electronic wallet of the applications developed by Multisys.

“We think this initiative is very important not only locally but also nationally. And we know LandBAank is our key partner to really make that happen,” Almirol said.

LandBank’s partnership with Multisys builds on its broader desire to serve the nation through the provision of innovative financial products and services powered by digital banking platforms.

From January to March, Landbank facilitated a total of 39.14 million transactions worth P567.61 billion through its main digital banking channels.

Image credits: Land Bank of the Philippines Inc.

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Elaine R. Knight