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June 19, 2024

Landbank, Multisys ink deal for LGU payment solution

State-run Land Bank of the Philippines led by bankero Cecilia Borromeo has tied with software solutions firm Multisys Technologies Corp. to provide local government units (LGUs) with an efficient digital payment and collection solution for local fees and charges.

Under the partnership, the state-run Bank’s all-in-one mobile wallet LandbankPay will be integrated with Multisys’ Smart City App, to allow residents to settle their financial obligations to LGUs without visiting the local offices.

These financial obligations include payments for real property tax, business tax, community tax certificate, local civil registry, health and business permits, and licenses.

Borromeo led the signing of the partnership agreement with Multisys president and CEO David Almirol Jr. Landbank senior vice president Randolph Montesa and Multisys e-government head Lyka Pelonio also attended the ceremony.

“The integration of LandbankPay and the Smart City App will help boost LGU collection rates and generate operational cost savings in the long run. More importantly, we will be providing greater convenience and security to residents when settling local government fees,” the bankero said.

Almirol said that the Smart City App is now being utilized in 75 LGUs nationwide, with the firm set to expand its deployment this year.

“We believe that this initiative is very vital not only on a local scale but also on a national scale. And we know that Lanbank is our key partner to really accomplish this,” Almirol said.

Landbank’s partnership with Multisys builds on its broader thrust of serving the nation through the delivery of innovative financial products and services powered by digital banking platforms.

In the first quarter of the year, the government-owned bank facilitated a total of 39.14 million transactions amounting to P567.61 billion through its major digital banking channels.