BPI, DMCI Homes simplify payments

Bank of the Philippine Islands (BPI) has partnered with DMCI Homes to let United States-based property buyers pay through their American bank accounts, simplifying overseas payments and the developer’s collections.

On Tuesday, the Ayala-led bank said DMCI Homes is the first developer to use its overseas collection arrangement (OCA), which combines digital enrollment, automated payment collection and reporting.

Through the arrangement, customers first sign a contract with DMCI Homes and agree on an amortization schedule.

The developer then sends a payment link that buyers can use to enroll their US bank accounts.

Payments are debited from the enrolled accounts and settled to DMCI Homes.

BPI said the service would help the developer receive payments faster, consolidate collections and streamline reconciliation.

Collection and settlement reports also allow DMCI Homes to track payments against expected receivables, helping ensure that amounts paid by buyers are properly recorded and settled on time.

“The OCA provides us with a more seamless way to manage payments from our US-based customers, while giving us greater visibility over our collections,” said Alfredo Austria, president and CEO of DMCI Homes.

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“This helps simplify our collection and reconciliation processes and allows us to better serve our property owners,” Austria said.

Edgardo Marcelo Jr., head of transaction banking at BPI, said the arrangement would ease payments for property owners while improving the developer’s operations.

The service forms part of BPI’s transaction banking and cash management offerings for businesses managing collection, reconciliation and settlement requirements.