The Bank of the Philippine Islands (BPI) has rolled out its overseas collection arrangement (OCA), a new cross-border payment solution that lets Philippine businesses receive payments directly from overseas customers, with DMCI Homes becoming the first property developer to use the service for its clients based in the United States. Under this arrangement, US-based customers can pay their amortizations straight from their local bank accounts using a secure payment link provided by DMCI Homes, removing the need for costly or complicated money transfer services. Once their account is enrolled, payments are automatically debited and settled to DMCI Homes, making the process simpler and more reliable for property buyers abroad.
For businesses, the solution brings greater efficiency, faster settlement, easier tracking through detailed reports, and simpler reconciliation, all in one streamlined system. DMCI Homes President and CEO Alfredo Austria noted the service gives them better visibility over collections while letting them serve customers more effectively. BPI Transaction Banking Head Edgardo Marcelo, Jr. added that the arrangement also frees up company resources, allowing DMCI Homes to focus more on building quality homes for Filipinos. As part of BPI’s wider cash management services, the OCA is now available to other Philippine-based businesses looking to simplify overseas collections.
