PAGCOR Chairman Efraim Genuino (5th, left) turns over the check worth P20 million to Postmaster General Hector Villanueva (4th, left) as financial assistance to Philpost to upgrade its information technology infrastructure for money transfer service . With them are (from left) Assistant Postmaster General for Administration Luis Carlos, PhilPost Director Edgardo Diaz, Anniversary chairman Director Ramon Gelvezon, Assistant Postmaster General for Finance Elizabeth Tungol and Postalbank Vice President Leonardo Cruz.
The Philippine Postal Corp. (PhilPost) signed a memorandum of agreement with the Philippine Postal Savings Bank (PPSB) and Philippine Amusement and Gaming Corporation (Pagcor) to improve Philpost’s information technology (IT) infrastructure for its money transfer service.
Under the said MoA, Pagcor will provide financial assistance to Philpost through the PostalBank which will be used solely for the procurement of computers and other IT requirements to develop its money transfer/remittance service.
With the assistance provided by Pagcor, Philpost will be able to do real time remittance to selected key cities and municipalities in Metro Manila, Davao, Cebu, Cagayan de Oro, Zamboanga, etc. at a lower fee than the prevailing market rates.
The remittance service will cater to both domestic transfer and international remittances for the benefit of Overseas Filipino Workers (OFWs).
Assistant Postmaster General Elizabeth Tungol said that with the assistance provided by Pagcor, PhilPost can start developing the infrastructure with at least 100 post offices to start with, out of their 2,300 post offices nationwide.
“Once we have developed our infrastructure, one advantage that we have is our being low-cost provider and the other is our vast network,” Postmaster General Hector Villanueva said.
Pagcor, on the other hand, believes that given the IT capability and its existing post office network, Philpost can compete against any private firm engaged in the same business. Pagcor also considers the importance of the project in becoming a major source of revenue for Philpost.
