Inquirer and Security Bank partner for online cash management system

Wednesday 6 August 2014 08:23 CET | News

Newspaper company The Philippine Daily Inquirer has entered a partnership with financial institution Security Bank to use an online system that streamlines transactions between the two.

The Billing/Invoice Presentment and Payment System (Bipps) is a collection module that allows the Inquirer to post open invoices online for advertisers through Security Bank’s DigiBanker cash management platform.

Under Bipps, the outstanding bill will be uploaded by Inquirer into DigiBanker so that the digital file can be accessed. The client will be notified via e-mail.

A key feature of the Bipps is the use of a Fifo method in which the outstanding invoices must be paid first before the subsequent receipts can be paid. This also allows the client to settle all payments at once.

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Keywords: Inquirer, Security Bank, online cash management system, Bipps, online banking, e-invoicing
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech