Visa Highlights the Role of Payments in Shaping Gen Z's Financial Future

Visa Highlights the Role of Payments in Shaping Gen Z's Financial Future

Sunday, January 26, 2025

Gen Z, now in their 20s and 30s, is beginning to drive changes in work, business, and relationships, according to research from Visa (NYSE: V), a global leader in digital payments. As these young professionals aged 16 to 30 pursue financial independence, they are redefining youth financial management and embracing a dynamic, holistic approach to thrive in a rapidly evolving world.

Visa’s latest Green Shoots Radar survey found that Gen Z respondents surveyed in Asia Pacific tend to save their income, setting aside about 30% of what they earn. Increased awareness of financial goals (47%) drives these young individuals in the region to further build their savings, with about half committed to practicing better financial management (47%). As a generation shaped by diverse experiences and perspectives, this group places significant value on cultivating a stronger mental and emotional approach toward financial management (36%).

“Gen Z is a generation that values flexibility and innovation, leveraging digital tools to navigate an increasingly dynamic financial landscape,” said Jeffrey Navarro, Country Manager for Visa Philippines. “At Visa, we are committed to empowering Gen Z with secure, accessible, and innovative payment solutions that align with their needs and aspirations. Through our advanced technologies and educational initiatives, we aim to support their journey toward financial independence and long-term success.”

Emphasizing Payments in Financial Journeys

For Gen Z, financial success is not about following a single path but finding a strategy that aligns with their individual aspirations and lifestyles. As a generation that values adaptability and independence, they seek flexibility in their financial journey, balancing enjoying the present and securing their future.

To manage the rising costs of living, over half of Gen Z in APAC (57%) reduce spending and cut back on non-essential expenses. Additionally, 36% of this age group in the region value the importance of creating and following a strict budget as part of maintaining financial stability.

While Gen Z prioritizes saving, they also embrace opportunities to indulge in meaningful purchases, with 91% in the region willing to spend on big-ticket items. Topping their list is travel and vacations (53%), followed by electronics, computers, and mobile devices (49%).

Supporting a Digital-First Lifestyle with Visa

As digital natives, Gen Z relies on technology for everything from shopping to banking. Visa’s Green Shoots Radar survey highlights that 60% of Gen Z in APAC already own a credit card, underscoring their adoption of cashless transactions. Payment systems tailored to a digital-first lifestyle, including mobile wallets, contactless options, and integrated financial apps, provide ease and accessibility, enabling financial independence to become a tangible goal.

Visa’s commitment to innovation ensures that Gen Z can transact confidently and securely. By integrating advanced technologies such as tokenization and fraud prevention, Visa provides a seamless and safe payment experience for this tech-savvy generation. Features such as Click to Pay and Tap to Pay by Visa also support Gen Z in fulfilling their financial priorities and pursuing their lifestyle aspirations with ease and seamless accessibility. By combining intuitive security with the convenience of a simple click or tap, Visa ensures that transactions are not only convenient but also secure.

Visa’s Value-Added Services Empowering Businesses

Visa’s Value-Added Services (VAS), such as Acceptance Solutions, Issuing Solutions, Visa Protect, and Advisory Services, empower businesses to innovate, grow, and build trust in a fast-paced digital environment. By leveraging insights from Visa's Advisory Services on Gen Z behavior in the Philippines, businesses can better engage their target audiences, improving customer acquisition, engagement, and retention.

Understanding Gen Z's Impact on Payments and Commerce

As Gen Z continues to navigate an increasingly digital world, their financial habits and preferences will shape the future of payments and commerce. For businesses, understanding this generation's focus on practicality, flexibility, and meaningful choices is essential. Leveraging targeted insights, such as those provided by Visa’s Advisory Services, can help businesses craft experiences that align with Gen Z’s expectations in a digital-first world.

Gen Z’s adaptable, purpose-driven approach balances immediate needs with long-term goals, leveraging technology to manage expenses and drive growth. Their influence shapes a future of progress and innovation. Visa, through its solutions, empowers businesses to navigate these shifts and create meaningful experiences that resonate with this influential generation.

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International Workplace Group Expands to Pampanga, Partners with Mabalacat Prime Land

International Workplace Group Expands to Pampanga, Partners with Mabalacat Prime Land

International Workplace Group (IWG), the world’s largest provider of hybrid working solutions with brands including Regus and Spaces, is pleased to announce the opening of its first Regus centre in Mabalacat, Pampanga, set to launch on January 27, 2025. This expansion is made possible through a strategic collaboration with Mabalacat Prime Land Realty and Development Corporation.

Located at Skytech IT Park, right along McArthur Highway, the new centre will play a pivotal role in IWG’s growing presence across the Philippines. Strategically positioned to serve Pampanga’s dynamic economic landscape, the partnership is forged to meet the needs of businesses and professionals seeking flexible workspace solutions in the region’s thriving hub.

Supporting Regional Growth and Connectivity

Mabalacat City, a vital gateway to Central Luzon, is perfectly positioned as a central hub for businesses aiming to expand regionally. Its strategic location near major terminals, highways, and expressways makes it an ideal destination for companies seeking a strong regional presence. The city's connectivity and access to key provincial areas further enhance its appeal as a prime location for establishing a regional headquarters.

“This partnership reflects our mutual commitment to driving growth and providing businesses with the support they need to succeed in Central Luzon’s dynamic landscape,” said Katarina Sy, Sales and Finance Director of Mabalacat Prime Land Realty and Development Corporation. “Mabalacat is rapidly emerging as a key business destination, and we are excited to contribute to its growth through this collaboration with IWG.”

The Mabalacat Regus centre will offer a variety of workspace options designed to meet the diverse needs of modern businesses:

• Fully equipped private offices
• Collaborative coworking spaces
• State-of-the-art meeting rooms
• Access to IWG’s global network via its app

Expanding IWG’s Reach in the Philippines

IWG’s model and local partnerships position the company as the global provider of the hybrid workspace revolution. This partnership with Mabalacat Prime Land Realty and Development Corporation reinforces IWG’s leadership in delivering flexible work solutions that meet the needs of businesses and individuals alike.

The Mabalacat Regus centre is part of IWG’s strategic expansion in the Philippines. These centres will provide professionals and businesses with state-of-the-art facilities, promoting the benefits of flexible, hybrid work solutions. With a rapidly increasing demand for such spaces, IWG is committed to bringing its world-class workspaces closer to businesses in regional hubs across the country.

“This new centre in Mabalacat underscores our commitment to supporting hybrid working in the Philippines. As the demand for flexible workspaces continues to rise, we are proud to provide businesses with cost-effective, scalable solutions that enable them to operate with enhanced flexibility and efficiency.” Lars Wittig, Senior VP, APAC North, IWG, commented.

Mark Dixon, CEO & Founder of International Workplace Group PLC, commented: “We are establishing a stronger and much-needed footprint in the Philippines with this latest opening. As an important business hub, Mabalacat City, is a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal. We are very pleased to work in partnership with Mabalacat Prime Land Realty and Development Corporation to develop the Regus brand under a management agreement that will add a cutting-edge workspace to their building.

“Our opening in Mabalacat comes at a time when more and more companies are discovering that flexible working boosts employee happiness and satisfaction, while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced costs.”

Driving Market Leadership through Partnerships

The flexible workspace market is projected to grow to USD 58.07 billion by 2037, with coworking spaces accounting for 38% of the market share. Businesses adopting hybrid models report significant cost savings, with companies saving an average of USD 11,000 per employee annually.

With over 4,000 locations globally, IWG continues to provide innovative, flexible working environments. The Philippines remains a standout market for IWG. In the Philippines alone, IWG operates 33 centres, including recent launches in Cagayan de Oro, Baguio, and Mandaluyong. Additional openings are planned in Carmona in Cavite, Makati and Lipa in Batangas in early 2025. By embracing flexible working, these businesses achieve greater productivity, operational agility, efficiency, and market proximity, positioning themselves for success in an evolving work landscape.

IWG’s multi-brand strategy caters to businesses and entrepreneurs of all types and sizes. The company provides personal, financial, and strategic value to a wide range of clients—from some of the world’s largest and most innovative companies to up-and-coming startups and individual professionals.

Responding to the shift away from traditional office spaces, IWG signed 465 new locations globally in the first half of 2024 and now serves 83% of Fortune 500 companies. As hybrid working accelerates globally, the potential for growth is extraordinary, with an estimated 1.2 billion white-collar workers and a total addressable market exceeding USD 2 trillion. IWG’s commitment to this expanding market is backed by an annual technology investment of USD 64 million, ensuring seamless operations for its partners and clients.

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Philippines to Host ASEAN Tourism Forum 2026

Philippines to Host ASEAN Tourism Forum 2026

Friday, January 24, 2025

In a significant milestone for Philippine tourism, The Philippines represented by Secretary of Tourism Christina Garcia Frasco formally accepted the chairmanship of the ASEAN Tourism Forum (ATF) 2026 during a ceremonial handover held at the Johor International Convention Center on January 20, 2025. The symbolic gavel was handed over to Secretary Frasco by Dato Sri Tiong King Sing, Malaysian Minister of Tourism, Arts and Culture marking The Philippines' commitment to host this prestigious event.

The ATF is set to include the highly anticipated ASEAN Tourism Ministers’ Meeting, which will convene in the province of Cebu in January 2026.

Meanwhile, the preparatory meetings leading to the most prestigious gathering in ASEAN will be held in Manila and Boracay.

“As the Philippines takes on the Chairmanship of ASEAN 2026, I invite you to join us in the Philippines for the 29th ASEAN Tourism Ministers’ Meeting in Cebu on January 2026. It will be an opportunity not just to discuss policies, but to witness firsthand the immense potential for sustainable tourism growth in the region,” Secretary Frasco said.

She highlighted the warmth and hospitality of the Filipino people, along with the rich culture and stunning natural beauty that Cebu has to offer.

Secretary Frasco emphasized that “Cebu is a hallmark of unity — evincing what can happen when communities, businesses, and governments come together to create a tourism model that is both profitable and responsible”.

“The Philippines, with its spirit of hospitality and deep sense of community, stands ready to open its pristine shores to all of you, where we will write a new chapter of the ASEAN story: a legacy of unity, sustainability, and prosperity for all,” she added.

Aside from the ASEAN meetings, a TRAVEX trade show, and various conferences will also be hosted by the Philippines as part of the ATF 2026.

The Philippines' upcoming hosting of the ATF follows the country's successful mounting of the 36th UN Tourism Joint Commission Meeting for the Asia Pacific and South Asia, as well as the inaugural UN Tourism Regional Forum on Gastronomy Tourism.

Philippines as Vice Chair

Alongside her participation in the ASEAN Tourism Forum 2025, Secretary Frasco served as vice chair at the 28th ASEAN Tourism Ministers’ Meeting, which was attended by tourism ministers from ASEAN member states Malaysia, Indonesia, Brunei, Singapore, Thailand, Cambodia, Timor Leste, and Vietnam, as well as representatives from Russia, Japan, India, and South Korea.

As the lead country coordinator for the development of the ASEAN Tourism Sectoral Plan (ATSP) Post-2025, Secretary Frasco presented updates and recommendations to fellow ministers aimed at fostering a tourism sector that drives equitable and sustainable economic growth for all.

“The ATSP envisions a tourism landscape that not only stimulates economic progress but does so in a manner that is equitable and sustainable. Our focus extends beyond quantity to quality – prioritizing convenience and safety in tourism, promoting longer stays and increased spending, all while safeguarding our natural resources and honoring our heritage and culture,” said Secretary Frasco.

She also emphasized the Philippines’ commitment to work with its ASEAN neighbors to build a sustainable tourism industry, “where tourism is not only about counting visitors but measuring their spending, contributions, and impact upon our communities, driven by the primordial principle of preserving the unique cultures and ecosystems that make the ASEAN a truly special place to visit.”

The Tourism Chief of the Philippines also called ASEAN a “family.” “United by a shared vision for the mutual prosperity of our nations, we perpetuate the notion that tourism is a force for good: transforming lives, sustaining livelihoods, forging friendships, creating memories etched in the hearts of all who come upon our streets and shores.”

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AIA Philippines and BPI AIA Reaffirm Support for Young Athletes in UAAP and PVL

AIA Philippines and BPI AIA Reaffirm Support for Young Athletes in UAAP and PVL

Wednesday, January 22, 2025

AIA Philippines and BPI AIA Life Assurance Corporation showed continued support for both student-athletes and professional volleyball players as marketing partners of the One Sports broadcast of the UAAP Season 87 and the Premier Volleyball League (PVL). AIA Philippines teamed up with One Sports to broadcast the UAAP Men’s Basketball Tournament and UAAP Cheerdance Competition, while BPI AIA extended its support to the PVL broadcast. This joint effort highlights AIA's mission to empower Filipinos to live healthier, longer, better lives through sports.

As naming sponsor of the AIA Rebounder of the Year award, AIA Philippines recognized Far Eastern University's center Mohamed Konateh for his impressive average of 16.7 rebounds per game. Konateh also received a PHP 50,000 cash prize. Meanwhile, the NU Pep Squad, UAAP Season 87 Cheerdance Champions, took home a PHP50,000 cash prize as winners of the AIA Ascend Best Aerial Performance award.

Building a healthier future through sports

AIA's support for Filipino sports stems from the company’s purpose: to help people live healthier, longer, and better lives. An active lifestyle achieved through participation in various sports is a key path toward better health, and team sports support not just physical health, but through community and connection, while also promoting mental health.

"At AIA, we are committed to empowering people to achieve better health,” says Melissa Henson, Chief Marketing Officer, AIA Philippines. “There are many ways by which we can improve our health, such as being more physically active. Participating in sports can play a big part in this, and recognizing that different individuals enjoy different activities, it is important for us to support a variety of sporting events. This allows us to broaden our reach and engage more Filipinos in building a more meaningful journey toward better health.”

Championing Filipino athletes

Partnering with One Sports for UAAP and PVL was a natural fit for AIA Philippines and BPI AIA as they champion the value of sportsmanship and healthy competition in further empowering Filipinos to take charge of their health and wellness — attracting diverse audiences united by their shared passion for sports.

AIA, in fact, is a global principal partner of Tottenham Hotspur Football Club, one of the top-ranking teams in the English Premier League. Since 2019, AIA Philippines has also been a sponsor of the AIA 7s Super League, a seven-a-side football league in the Philippines that aims to support domestic teams from the grassroots level through open tournaments across men’s, women’s, and youth divisions. AIA Philippines was also the presenting sponsor at the 2024 Rock ‘N Roll Run Series Manila, the only Asian leg of the world’s largest running series. AIA will be the title sponsor this 2025. These various commitments seek to support athletes and enthusiasts across a range of sports in the Philippines.

AIA’s dedication to Filipino sports continues with its sponsorship of the One Sports broadcast of UAAP Season 87’s Women’s Volleyball Tournament this February. With these ongoing efforts, AIA Philippines and BPI AIA continue to inspire the next generation of athletes to achieve greatness in health and wellness both on and off the field.

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FWD Life Insurance wins multiple awards, strengthens position as the insurer of the next generation

FWD Life Insurance wins multiple awards, strengthens position as the insurer of the next generation

FWD Life Insurance (FWD Philippines) strengthens its position as an industry leader with multiple prestigious awards, demonstrating its commitment to corporate governance and its customer-first approach by providing first-to-market innovations.

FWD Philippines secured the Top 2 spot in the 2024 Million Dollar Round Table (MDRT), a prestigious recognition from the ‘Premier Association of Financial Professionals.’ FWD Philippines also won two Golden Arrows at the Asean Corporate Governance Scorecard. The company’s Data Protection Officer is also among the Top 5 Data Protection Officer Finalists of the Year at the Privacy Awareness Week (PAW) Awards 2024, organised by the National Privacy Commission (NPC).

Aside from these corporate awards, FWD Philippines also won awards from tech and creativity award shows for its fully customizable and affordable insurance plan designed for the widely underserved gaming community, The One for gamers.

“These awards showcase our unwavering commitment to nation-building as we strengthen our position as the insurer of the next generation,” shared Jumbing De Rosas, President and CEO of FWD Philippines. “Innovation is just one part of the solution to expanding financial inclusion in our country. We will continue to work together with our partners to help more Filipinos build their best future.”

To launch The One for gamers in 2023, FWD Philippines formed an industry-disrupting partnership with the Mobile Legends: Bang Bang Professional League-Philippines (MPL-PH) Season 12. This led to multiple wins from key industry award-giving bodies like the Public Relations Society of the Philippines’ 58th Anvil Awards, 4As Philippines’ Kidlat Awards, Marketing Excellence Awards, and PANAta Awards.

At the recent Digital Marketing Association of the Philippines’ (DMAP) Boomerang Awards, FWD Philippines won the Tech Innovator of the Year – Advertiser. Meanwhile, The One for gamers was proclaimed Tech Innovation of the Year and garnered two category-specific awards — a Silver Boomerang for Gaming and a Bronze Boomerang for Commerce.

FWD Philippines also won Gold for Excellence in AI-Powered Storytelling and Bronze for Excellence in Data-Driven Marketing at the Marketing Excellence Awards for its dynamic content engine, an AI tool that uses Metadata to create up to 4,096 unique ads that adapt in real-time, optimizing engagement across social media and delivering FWD’s innovative offerings.

Most recently, FWD Philippines won four awards at the Mobile Marketing Association (MMA) SMARTIES Awards, including two Gold Smarties awards for Emerging Tech Marketing (Data Insights/Contextual Marketing) and AI Marketing (AI-Driven Creative Excellence), a Silver Smarties award for AI Marketing (AI-Powered Audience Engagement); and the prestigious Best in Show award.

In recent years, the insurance market has gained significant traction among millennials and Gen Zs, who are more digital-savvy and expect technology to be part of their customer journey. However, FWD Philippines believes human interaction remains vital for all age groups, leveraging tech like generative AI to complement, not replace, human touchpoints.

Beyond its success with The One for gamers and its dynamic content engine, FWD Philippines also received Bronze award at the Asia-Pacific Stevie Awards for SparktheDream, a Community Care initiative launched in 2023 with the Junior Achievement of the Philippines (JA Philippines) to enhance young Filipinos’ financial literacy, enabling them to be proactive changemakers.

Read more about how FWD is changing the way people feel about insurance at www.fwd.com.ph.

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Manulife Collaborates with MDRT to Drive Quality Agency Force Growth and Strengthen Customer Focus

Manulife Collaborates with MDRT to Drive Quality Agency Force Growth and Strengthen Customer Focus

Monday, January 20, 2025

Manulife Asia announced recently that it has signed a three-year Exclusive Premier Sponsorship agreement with the Million Dollar Round Table (MDRT), a global, independent association of the world’s leading insurance and financial services professionals from 85 nations and territories and more than 700 companies.

The program, which started earlier this year, is a strategic initiative to drive high quality, sustainable growth for Manulife’s agency force by better providing agents with essential tools and knowledge to advance their skills and careers in the life insurance and financial services industry. Recognized globally as the standard of excellence, MDRT's collaboration with Manulife, which ranked third worldwide in MDRT members in 2023, solidifies Manulife’s leadership in the industry and inspires its professionals to expand their expertise as the insurance sector evolves.

“The signing of Manulife’s Premier sponsorship deal with MDRT represents a tremendous opportunity for our company to grow and advance by further professionalizing our strong agency force. This renewed sponsorship underlines our continuous dedication to developing our team and upholding the outstanding quality of our agency force. Our professional agents are crucial to maintaining trusted relationships with our customers and they make a positive difference in the lives of the communities that we serve across the region,” said Rishi Srivastava, Chief Agency Officer, Manulife Asia.

This three-year MDRT sponsorship program supports career advancement for top agents at all Manulife markets at all stages, from newcomers to future leaders, ensuring that Manulife's customers receive quality advice and comprehensive services from well-trained and motivated professionals. This initiative encompasses a range of tailored development programs, including Academy Train the Trainer year-round support, in-person workshops supporting both agency leaders and MDRTs by MDRT expert speakers, and other valuable learning content and online courses, all aimed at enhancing the skills and knowledge of Manulife's agency force to better serve their customers in the region.

In the Philippines, Manulife has been taking steps to support and equip their agency force with the recent launch of LEAP (League of Extraordinary Advisors Program). LEAP is an initiative aimed at providing financial advisors with learning, coaching and mentorship opportunities to become MDRT members and leaders. The courses cover local and global best practices, top sales ideas, as well as MDRT tools, and include mentoring sessions and performance coaching. Additionally, Manulife Philippines has rolled out an industry-first program, which provides special career progression to financial advisors who achieve Top of the Table (TOT) and Court of the Table (COT) honors.

“Achieving our mission to make decisions easier and lives better for customers means strengthening our agency force by investing in their learning and development. At Manulife Philippines, we are committed to setting up our financial advisors for success, so they can better serve our customers while also empowering them to acquire best practices from fellow advisors and agency leaders, grow their careers, and achieve their life goals and aspirations,” said Sailesh Nalinakshan, Chief Agency Officer, Manulife Philippines.

The MDRT sponsorship is in alignment and complementary to Manulife’s strategy in accelerating Asia growth and enhancing the quality of agency force. To attract and nurture top talent in the financial services industry, Manulife continues to roll out Manulife Pro, a proprietary recognition and activation program for top-tier agents across Asia. Together, the MDRT engagement and the Manulife Pro program will help create a best-in-class professional, customer-centric agency force that supports Manulife’s goal of becoming a leader in the Asian market.

Mr. Srivastava further commented, "As Manulife continues to prioritize customer needs and enhance customer experience by leveraging advanced data and analytics, our dedicated agency force is key to delivering high-quality, holistic solutions to meet their needs in this world. By investing in comprehensive, training for our agents, we empower them to drive our transformation into a leading digital, customer-focused market leader and the best long-term partner for our customers."

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Real-time Meralco payments at 7-Eleven CLiQQ Kiosks, now made possible by Bayad

Real-time Meralco payments at 7-Eleven CLiQQ Kiosks, now made possible by Bayad

Sunday, January 19, 2025

Busy lifestyles have led a lot of Filipinos to rely on doing one-stop-shop errands at convenience stores like 7-Eleven. Apart from buying goods, ready-to-eat cooked meals, and beverages, Meralco bills can also be paid at 7-Eleven CLiQQ Kiosks, available in over 4,100 branches nationwide.

Apart from enabling 24/7 payments at the ease of your own neighborhood, 7-Eleven has partnered with Bayad, accelerating Meralco payments from 24 hours to real-time or instantaneous posting. This will greatly benefit more Filipinos as it allows them to pay on time, and avoid overdue bills or disconnection notices.

Bayad, formerly Bayad Center and the pioneer brand in the outsourced bills payment collection service in the Philippines, is now a full-service fintech subsidiary of Meralco.

Apart from Meralco, Bayad has also activated Red Fiber, Metropolitan Manila Development Authority (MMDA), and National Housing Authority (NHA) in the CLiQQ Kiosk’s biller network.

On top of these, Bayad is also expected to bring in more electric and water utility brands, government fees and contributions, tollway RFID, insurance, loans, tuition fees, and many others.

Ultimately, Bayad’s partnership with 7-Eleven underscores modern convenience and digital innovation, fulfilling its shared mission of making daily lives easier for Filipinos.

Bayad President and CEO Lawrence Ferrer underscored , “Our world moved faster than we could have imagined. We at Bayad had to swiftly up our game in expanding our payment channels as we cater to the demand of providing more accessible and secured bills payment services for our kababayans who are noticeably always on the go and are becoming more and more tech-savvy. Our partnership with 7-Eleven allowed us this opportunity, highlighting our shared vision for financial consumer empowerment and driving economic growth in the country.”

7-Eleven Managing Director for Digital, Jose C. Ang, shared, “As we celebrate our 40th year in the industry, this partnership with Bayad allows us to continue to stay true to 7-Eleven's thrust to continuously innovate modern convenience and enhance customer experience. We are excited to keep serving our communities and uphold our mission of being ‘the neighbor you can count on.”

For fintech and retail institutions like 7-Eleven that are interested in being a part of Bayad’s extensive payment channel network, you may send an email to partnerships@bayad.com. Bayad enables partners to attain nationwide presence and provides end-to-end support services for efficient payment and collection processing.

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