KUALA LUMPUR (May 8): MyEG Services Bhd (MyEG) said its 40%-owned Philippine joint venture MyEG Philippines Inc has launched its payment processing services for the Philippines’ Securities and Exchange Commission (SEC), by offering more convenient and hassle-free payment options to the public.

In a statement on Monday (May 8), MyEG Philippines said its services will enable the public to make payments across more than 90,000 channels, both online and offline.

“We are delighted to extend all our more than 90,000 channels to the SEC, so corporations can have more options to pay their SEC fees online or payment centres near their homes or offices,” MyEG Philippines chief executive officer Ann Margaret Saldaña said.

Following the activation of MyEG Philippines’ services on the SEC payment portal, Saldaña said that businesses can just log in online from the "eSPAYSEC" and pay through all payment channels provided by MyEG Philippines.

“It will be easier, faster, safer and more convenient way with numerous payment options,” she added.

According to Saldaña, the public can now pay registration and other transaction fees to the SEC, including articles of partnership, articles of incorporation, financing/lending companies’ annual fees, exchanges, investment company registration as well as application for accreditation, general certifications and certification on corporate filing/information, on the eSPAYSEC using MyEG Philippines’ online payment networks.

Among the networks include e-wallets such as GCash, Maya, GrabPay, and ShopeePay, credit/debit cards, as well as online bank transfers from BDO, BPI, RCBC, UnionBank, Maybank and Metrobank.

MyEG Philippines also provides over-the-counter payment centres for users to settle their payments to the SEC. The centres are located in convenience stores, malls, pawnshops, and other establishments across the country, such as 7-Eleven, Cebuana Lhuillier, Palawan Pawnshop, Tambunting Pawnshop, Bayad Center, The SM Stores, Robinsons Department Stores, DA5, Posible, Pay&Go, and USSC.

Philippines SEC shifted its payment channels online and offsite starting Feb 1, in line with its zero face-to-face transaction policy. Accordingly, all payments to Philippines SEC have since been accepted only through the eSPAYSEC and at any branch of the Land Bank of the Philippines nationwide.

Meanwhile, shares of MyEG fell 3.5 sen or 4.32% to 77.5 sen, giving the company a market capitalisation of RM5.8 billion.