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BPI Launches BPI BizKo Digital Platform For MSMEs

BPI BizKo

BPI BizKo is a simple, affordable, and convenient subscription-based digital banking platform that helps MSMEs to manage their business finances and provides an integrated online system for invoicing and collection.

A subscription-based digital banking platform for micro, small, and medium-sized businesses (MSMEs) has just been launched by the Bank of the Philippines (BPI), making it simple, economical, and convenient for MSMEs to handle their business finances online.

BPI BizKo

The all-in-one online platform, which is accessible via app and web, provides MSMEs with immediate access to their account information – to view balances, deposits, and payables, to pay employees, suppliers, utilities, and government dues on a regular basis, to create digital invoices in their business name, to receive invoice number reminders to avoid duplication, and to receive and monitor payments via its intuitive invoicing system. With your BPI Online Banking Account linked to BizKo, entrepreneurs may now avoid the burden of filing several onboarding requirements and instead enroll in and transact through BPI BizKo anytime, anywhere.

MSMEs can manage daily financial and accounting procedures with BPI BizKo without the need to transfer funds to another e-wallet or bank account or physically visit a branch. This simplifies the financial flow to and from their partners and customers, allowing for more precise and convenient monitoring.

While these are all advantages of having a corporate internet banking platform, they frequently need a sizable initial deposit and daily balance maintenance, which some MSMEs struggle with. They can access these services through BPI BizKo's flexible and affordable subscription plans, which are accessible on a monthly or annual basis.

BPI BizKo is accessible via its official website at www.bpibizko.com and a mobile app that can be downloaded from the App Store or Google Play Store. To get started, business owners can create a BizKo account by clicking on the 'open account' button online. To enlist in BizKo, you must already have a BPI deposit account and a BPI Online Banking account.

Customers can choose from four subscription plans, available in monthly or annual payment terms that start at P50 and P100 per month for basic and premium plans respectively. A minimum fee of P10 will be charged for each successful transaction. Fees vary, depending on the transaction type and subscription plan.

Additionally, BPI is developing BizKo to enable consumers to accept credit card and Gcash payments for their businesses, enabling MSMEs to go cashless as COVID-19 accelerates digital payments.

BizKo, like BPI's other mobile applications, utilizes two-factor authentication. Biometric activation is available for increased convenience. Additional security features include PIN nomination for changes to the BizKo user's account settings, email notifications for each login and transaction, and the ability to configure BizKo transactional restrictions. Meanwhile, BizKo's infrastructure is protected by best-in-class encryption.

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. 

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