BSM Institution Payment (BPI) Services
Customers’ credibility in transactions is secured
Customers do not need to come by the bank for overbooking.
Facilitating your business.
A BSM Institution Payment (BPI) Service is a Host-to-Host payment service system for institutional customers where payment can be made through BSM delivery channels, Joint ATMs and Prima ATMs. This is wakalah wal ujrah. Wakalah wal ujrah is a contract that authorizes a bank to represent a customer in paying his/her bills. The bank, for its service, receives a fee called ujrah.
Benefits of BSM Institution Payment (BPI) Services
- Payment is available at ATMs (Joint ATMs and Prima ATMs), BSM Mobile Banking and BSM Net Banking
- Payment is available 24 hours a day, 7 days a week through BSM Channels (BSM Net Banking) Prima ATMs and Joint ATMs.
- The proceeds of payment of Customers/Students will be automatically credited to the institution’s account.
- A transaction report may be viewable in real time by the institution through web eupay
- Customers/Students do not need to open an account at BSM.
- Institutions do not need to open multiple-accounts at several banks.
- Very easy to manage and control the institution’s finance.
- Easier for the institution to manage the finance of the customers’ bills.
- Registration Process for BSM Institution Payment (BPI) Services
- The institution submits an application for cooperation for BPI services, completes and submits a statement, accompanied by a BSM Institution Payment (BPI) Services form.
- The BSM Branch Coordinator submits a copy of the statement and the BSM Institution Payment (BPI) Services form, accompanied by a cover letter from the BSM Branch, which bears the signature of the Branch Head to the BSM KP TRE
- BPI services use a real time transfer facility with the following codes:
- 3 digits for BSM Code (451)
- 3 digits for BPI Code (900)
- 4 digits for Institution Code
- 13 digits for Customer Code (NIM. Customer No, etc.)
- The institution is committed to complying with any prevailing provisions for BPI Services (Set-up fee: 15 million and 2,000/transaction)
- BSM is entitled to charge the institution which desires to use BPI services a set-up fee for 15 million (one time charge)
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