RCBC extends digitized cash solution promotion to SMEs


YUCHENGCO-led Rizal Commercial Banking Corp. (RCBC) said it expanded its digitized cash management solutions with complimentary e-services targeting small and medium enterprises (SMEs).

Under the marketing tack, SMEs availing of any one of RCBC’s two latest online collection solutions it calls “Pay Portal” and “Check Scan” could avail other digital cash management solutions for free.

These include payroll, on-site corporate-check writer and payments to the Bureau of Internal Revenue through RCBC’s online corporate banking platform.

Payroll annual daily balance, for up to 200 employees, shall be waived, the lender said. For the on-site corporate-check writer, clients get one free checkbook per month for the next six months.

“All that the SME would have to do is to comply with the required maintaining balance for checking account,” the bank said in a statement.

The bank explained its “Pay Portal” is a “one-stop shop online payment enabler for businesses, which aids businesses in the collection of sales settled via e-commerce payments, whether they already have an online store or not.” The payment platform enables the business to collect from individual customers using comprehensive electronic payment rails, such as credit cards, direct debit through bank accounts, online banking, electronic wallets and even over-the-counter payments.

“Check Scan” is a “first-in-market cash management solution that enables corporate clients to process bulk checks safely and efficiently through digitalization. The solution has a mobile app that allows businesses to process their check deposit transactions using handheld devices.

RCBC First Senior Vice President and SME Banking Group Head Ma. Angela V. Tinio was quoted in a statement as saying the universal bank “keeps looking for ways to make it easier and more affordable for businesses, especially SMEs, to digitalize their operations and have an efficient payment system.”

“We know how hard it is to sustain a business operation during these tough times, and we hope that this offer will help encourage SMEs to avail of our bank’s cash management solutions, which will in turn help them improve their overall business operations,” Tinio said.

The said offer is for a limited time only and will run until end of the year.

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