Bank of the Philippine Islands (BPI) and Ayala Land, Inc. (ALI) have a new direct debit facility allowing property owners and tenants to settle recurring payments from any participating bank, the companies announced.
The initiative represents the first interoperable and multilateral auto-debit system in the Philippines, enabling users to automate payments such as property amortizations, rentals and association dues regardless of where they hold their bank account.
Previously, such arrangements required both the payor and biller to maintain accounts within the same institution.
The system is part of a broader push by the Bangko Sentral ng Pilipinas (BSP) to create a safer, more inclusive digital payments ecosystem.
“This is a first-of-its-kind solution in the Philippines that allows interoperable direct debit for recurring payments,” said BPI head of institutional banking Louie Cruz.
“By enabling automated debits from any participating bank, we are setting a new standard for convenience, reliability, and innovation in payments,” said Cruz.
For Ayala Land, the platform enables automated clearing, same-day settlement to their BPI account and standardized reporting across Philippine Clearing House Corporation member banks. This reduces manual processing and improves reconciliation efficiency.
“This initiative reinforces Ayala Land’s commitment to delivering a more seamless and efficient buying experience,” said Ayala Land deputy treasurer Jigger Jamir.
“Through a one-time authorization, customers can now make recurring payments electronically using their existing bank accounts, removing the need for multiple checks and simplifying how they manage their financial commitments,” he said.
Full rollout of the service is targeted within the first quarter of the year following a pilot phase.
