BPI, DMCI Homes to ease payments for US-based buyers

MANILA, Philippines — Bank of the Philippine Islands (BPI) has partnered with DMCI Homes to make it easier for property buyers to pay housing amortizations directly from their bank accounts in the United States.

The partnership makes DMCI Homes the first property developer to adopt BPI’s Overseas Collection Arrangement (OCA), a payment solution that allows Philippine businesses to collect payments from customers abroad while simplifying the monitoring and processing of transactions.

Under the arrangement, DMCI Homes customers based in the US can settle their property payments using their existing American bank accounts, providing a more convenient way to meet their financial obligations in the Philippines.

After signing a contract with DMCI Homes and agreeing on an amortization schedule, buyers will receive a payment link from the developer, which they can use to enroll their US bank accounts.

Payments will then be automatically debited from their enrolled accounts and transferred to DMCI Homes, reducing the need for manual payment processing.

BPI transaction banking head Edgardo Marcelo Jr. said the partnership would help the property developer improve its collection processes while making payments more convenient for overseas buyers.

“We at BPI are more than happy to partner with DMCI Homes to provide the OCA as a solution for the company to be able to streamline collections, particularly for its US-based customers. In the process, the service would also make payments easier for DMCI Homes property owners,” Marcelo said.

He added that the arrangement could improve DMCI Homes’ operational efficiency, allowing the developer to devote more resources to its residential projects.

Apart from facilitating payments, the system provides collection and settlement reports that allow DMCI Homes to monitor incoming funds and match payments against outstanding receivables, or amounts owed by customers.

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

BPI said the OCA forms part of its broader transaction banking and cash management services, which help businesses handle payments, collections and other financial transactions.

The solution combines digital enrollment, automated payment collection and reporting capabilities to help Philippine companies consolidate payments received from overseas customers through BPI.