Small business owners can now manage their finances with an all-in-one app that aims to simplify money management, especially for starting entrepreneurs.
BPI has launched a new digital banking app BizKo that aims to provide micro, small, and medium enterprises or MSMEs with an integrated online system for their business financial needs.
"It is an app meant to make online banking easy for MSMEs," Eric Luchangco head of BPI Business Banking told reporters on Wednesday.
With BPI BizKo, small business owners can receive and monitor payments, manage their payables and payroll, pay their government dues, and create digital invoices in one app.
Instead of a maintaining balance, BPI BizKo users need to pay a monthly subscription fee of P50 per month for the classic package and P100 per month for the premium package, which has more features.
Entrepreneurs can pay their subscription fees monthly but those who will pay annually get a month free.
Several small businesses popped up during the COVID-19 pandemic as Filipinos turned to entrepreneurship to ride out lockdowns. In the first year of the pandemic alone, the Department of Trade and Industry reported nearly 100,000 new online business registrations.
The BPI BizKo app is available for download at the App Store and Google Play Store.