The Bank of the Philippine Islands (BPI) recently launched BPI BizKo, a simple, affordable, and convenient subscription-based digital banking platform that enables micro, small, and medium enterprises (MSMEs) to manage their business finances while also providing an integrated online system for invoicing and collection.
The all-in-one platform available via app and web offers MSMEs immediate access to their account information. They can view balances, deposits, and payables, regularly pay employees, suppliers, utilities, and government dues, create digital invoices under their business name, get invoice number reminders to avoid duplication, and receive and monitor payments through an intuitive invoicing system.
By linking their BPI Online Banking Account to BizKo, entrepreneurs can skip the hassle of submitting multiple requirements for onboarding, and instead easily enroll and transact via BPI BizKo anytime, anywhere. With BPI BizKo, MSMEs can handle everyday financial and accounting processes without the need to move funds to another e-wallet or bank account. It also saves them the time of physically going to the branch.
With these benefits that come with having a corporate online banking platform, these often require a significant initial deposit and the maintenance of a daily balance that some MSMEs struggle with. BPI BizKo allows them to access these services with flexible and friendly subscription plans in monthly and annual terms.
BPI BizKo account creation and subscription plans
BPI BizKo is accessible through its official website and mobile app via the App Store and Play Store. Business owners can create a BizKo account by clicking ‘open account’ online to get started. Having an existing BPI deposit account and BPI Online Banking account is a must to enroll in BizKo.
Four subscription plans are available in monthly or annual payment terms that start at PhP50 and PhP100 per month for basic and premium plans respectively.
- Free Account Viewing and Transaction History
- Bills Payment
- Transfer to BPI Accounts
- Transfer to Other Banks
- Government Payments
- Invoice – Generation and Payment
- Request Money – Generation and Payment
- Payment Link Generation and Payment
- Financial Report Generation
A minimum fee of PhP10 will be charged for each successful transaction. Fees vary, depending on the transaction type and subscription plan.
BPI is also working on BizKo to allow customers to accept credit card as payment method for their businesses, enabling MSMEs to become as cashless as COVID-19 continues to accelerate digital payments.
BizKo is also protected by two-factor authentication. For added convenience, biometrics activation is also available. Other security features include PIN nomination for any changes to the BizKo’s user’s account settings, email notifications for each login and transaction, and set-up BizKo transactional limits.
Meanwhile, BizKo’s infrastructure employs best-in-class security measures for encryption.
Launch promo: Free three-month trial
Get a free three-month trial subscription when you enroll in BizKo from February 28 to May 31, 2022. To claim this, activate BizKo and wait for the promo code pop up, then input this in the payment confirmation page.
Emman has been writing technical and feature articles since 2010. Prior to this, he became one of the instructors at Asia Pacific College in 2008, and eventually landed a job as Business Analyst and Technical Writer at Integrated Open Source Solutions for almost 3 years.