Social Security System (SSS) and Union Bank of the Philippines (UnionBank) inked a deal that will upgrade the Unified Multi-Purpose Identification (UMID) Pay Card.
Leveraging UnionBank’s technologies, the upgraded version of the UMID Card will provide SSS members with new features and benefits. Members will be able to upgrade to the new version of the card when it fully launches in the fourth quarter of 2022.
“With this, we expect significant improvements in our transactions and accurate and timely payment of benefit claims and loan proceeds to rightful members, pensioners, and beneficiaries,” said Normita Doctor, SVP, Member Services and Support Group, SSS. “More importantly, it will significantly reduce the risk of fraud making online transactions and disbursement of loans and benefits more secure, aligned with our thrust to enhance our digital platforms and services.”
One of the main benefits offered by the new card is the convenience of having an SSS and government ID and a UnionBank debit card in one, where SSS members can receive their loan and benefit claim proceeds, and even refunds, directly and securely through their UnionBank Account, providing a level of ease and convenience like never before. It can also be used for basic banking services.
The soon-to-be upgraded card gives SSS members easy access to the UnionBank Online app and UnionBank’s banking and fintech superapp.
UnionBank Online is an all-in-one platform that allows users to bank anytime and anywhere, complete with essential features such as balance inquiry, bill payments, fund transfer, and mobile check deposits, as well as advanced features like split billing and a savings goal setter and more.
“This is a milestone for SSS, and hopefully with this one, we’ll be able to ensure that the ordinary SSS member could now become a bankable person through the getting of his UMID card,” said Michael Regino, president and CEO, SSS.