LandBank in partnership with private firm for LGU digital payment solution

THE Land Bank of the Philippines Inc. (LandBank) has partnered 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’s 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.

LandBank President and CEO Cecilia C. Borromeo and Multisys President and CEO David L. Almirol Jr. led the ceremonial signing of the Memorandum of Agreement (MOA) last May 24 at the Landbank Plaza in Malate, Manila, to formalize the partnership. They were joined by LandBank Senior Vice President Randolph L. Montesa and Multisys e-Government Head Lyka R. Pelonio.

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

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.

The MOA also covers the integration of the LandbankPay with other similar applications that the Multisys may develop in the future, wherein the LandBank app will function as the primary electronic wallet of the Multisys-developed applications.

“We believe that this initiative is very vital not only on a local scale but also on a national scale. And we know that LandBAank 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.

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

Image credits: Land Bank of the Philippines Inc.