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SSS, UnionBank sign deal to offer 'upgraded' UMID card

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ABS-CBN News

<p>MANILA - UnionBank and the state-run pensions fund Social Security System signed a memorandum of agreement to offer an upgraded UMID card beginning the fourth quarter, the bank said Thursday.</p><p>The deal formalized their partnership which seeks to launch the Unified Multi-Purpose Identification (UMID) Pay Card, UnionBank said in a statement.</p><p>The new card will give members new benefits such as having a government ID and a UnionBank debit card in one, it added.</p><p>Using the new card, members can receive their loan and benefit claims, as well as refunds directly.</p><p>UnionBank said the new UMID card could also be used for basic banking services. It can also be accessed via the UnionBank Online App, it added.</p><p>“This is a milestone for SSS, and hopefully with this one, we&#x27;ll be able to ensure that the ordinary SSS member could now become a bankable person through the getting of his UMID card,&quot; SSS President and CEO Michael Regino</p><p>The partnership could &quot;significantly&quot; improve transactions and would result in timely payment of benefit claims and loan proceeds, said SSS Senior Vice President of Member Services and Support Group Normita Doctor. </p><p>&quot;We are truly humbled and honored with this opportunity to be the first bank to be selected to work on this program with the SSS. This is a fulfilling journey for us as we do our part to ensure the Filipino employees enjoy their benefits in a meaningful way,&quot; UnionBank President and CEO Edwin Bautista said.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/14/18/digitize-or-perish-unionbank-bets-big-on-tech-to-drive-growth">‘Digitize or perish’: UnionBank bets big on tech to drive growth</a></li></ul><p>UnionBank and the SSS said this program aimed to boost financial inclusivity in the country by providing services to the underserved and unbanked.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/03/03/21/sss-to-expand-digital-services-amid-surge-in-online-transactions">SSS to expand digital services amid surge in online transactions</a></li>	<li><a href="https://news.abs-cbn.com/business/06/30/21/sss-improved-mobile-app">SSS unveils &#x27;improved&#x27; version of mobile app</a></li>	<li><a href="https://news.abs-cbn.com/business/07/23/20/paymaya-users-can-now-access-sss-benefits-via-digital-wallet">PayMaya users can now access SSS benefits via digital wallet</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1636161" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

UnionBank and the Social Security System signed a memorandum of agreement to offer an upgraded UMID card beginning the fourth quarter.