The Rizal Commercial Banking Corp. (RCBC) is now part of a new automated recurring payment system called Direct Debit PH, championed by the Bangko Sentral ng Pilipinas (BSP) to modernize the country’s payment ecosystem and accelerate the shift toward a cash-lite economy.
RCBC head of Transaction Banking Group Martin Tirol said that being among the first banks to adopt Direct Debit demonstrates the bank’s readiness to lead in payments innovation and deliver more efficient, reliable financial services for businesses.
“This is also consistent with our strategy as a payments ecosystem builder, connecting businesses, consumers, and financial institutions through infrastructure that is secure, scalable, and interoperable,” Tirol added.
Direct Debit is a BSP-regulated payment facility that allows businesses to automatically collect recurring payments directly from a customer’s bank account, based on a one-time authorization the customer provides upfront.
Once the authorization is in place, payments are processed on a set schedule. Businesses will no longer miss due dates, and there will be no need to initiate each transaction. Built under the National Retail Payment System framework, the facility works across participating banks, meaning businesses can collect from customers regardless of where they bank.
Direct Debit further strengthens RCBC’s cash management capabilities as it is implemented through a direct system-to-system connection with the platform, enabling faster, more seamless, and fully automated processing of recurring payment instructions.
For corporate billers, a single customer mandate covers collections across multiple banks, reducing late payments and eliminating the manual work of managing separate arrangements with each institution.
“For customers, payments happen automatically on schedule once they authorize a mandate, and they retain full control at all times – including the ability to cancel or update their arrangement whenever they need to,” Tirol explained.
Currently the 5th largest privately owned bank in the country and internationally recognized as The Cash Management Bank of the Year by The Asian Banker, RCBC provides a comprehensive corporate cash management ecosystem designed to help businesses streamline collections, payments, liquidity and financial operations through a suite of integrated corporate solutions. Backed by secure digital capabilities, the bank delivers tailored cash management solutions that simplify day-to-day operations while helping companies optimize their working capital and support long-term growth.
Corporate billers interested in adopting Direct Debit can reach out to their RCBC Relationship Managers or go to the nearest RCBC Branch to learn more about the service.
