Visa, Philamlife team up for cashless premium payment

JAKARTA, Indonesia – Visa International, the world’s number one payment brand, and Philamlife, the Philippines’ largest life insurer, have teamed up to offer Filipinos cashless payment for their life insurance premiums. By teaming up with the global leader in payment cards, Philamlife will be reaching out to a greater number of customers, whose preferred payment choice is Visa, and give them the convenience of paying premiums via credit card.

From June 15, 2002, all customers of Philamlife will be able to use their Visa cards to make annual, semi-anual, quarterly or monthly premium payments. Customers can also enjoy the convenience of signing up to have their premiums automatically debited from their Visa card accounts.

They simply need to fill out an enrollment form, list their personal details, including their Visa card number. All future payments will then be automatically made for the customer. In addition, through the payment of premiums on their credit card, customers can now enjoy additional rewards, such as more loyalty and frequent flyer points for redemption of travel benefits.

Philamlife president and chief executive officer Jose L. Cuisia, Jr. said, "We are absolutely delighted to introduce cashless payment through Visa. Our tie up with Visa will not only speed up the payment process, meet customer demands and help them better manage their finances, but for Philamlife itself, going plastic is also a more efficient method of handling payment and receipt of transactions from the operations end of the business."

June Seah, Visa International’s country manager for the Philippines, Singapore, Malaysia, Brunei and Guam, said, "Through this partnership, Visa sharpens its focus on helping the insurance industry in the Philippines and the region offer alternative payment methods to their customers. This exclusive program will help draw the attention of customers to a more efficient way of paying their insurance premiums. With Visa, Philamlife policyholders benefit from the convenience offered which means they no longer need to worry about possible late payments or finding time to physically make their premium payments at Philamlife counters. With Visa, the whole payment porcess is simple, fuss free and automatic."