BCS Singapore - Secure & Efficient Electronic Payment Systems

Interbank GIRO

Payment Collections Made Efficient

TOWARDS A CASHLESS SOCIETY

Interbank GIRO (IBG) was introduced in 1984 as part of Singapore’s major step towards a cashless society. This was supported by The National Campaign to Minimise Cash Transactions in 1985, which encouraged the adoption of GIRO payments by the masses. More than 30 years on, GIRO has become synonymous with payment of school fees, utilities, credit card bills and numerous other recurring charges incurred by households nationwide.

  • 1984
  • 2001
  • 2008
  • 2015

Launch of Interbank GIRO
Payment instructions captured in computer media and exchanged among banks

Launch of eGIRO
Increased efficiency with Internet-based technology and integration of payment instructions with Public Key Infrastructure and Virtual Private Network

Launch of eGIRO+
Fully-automated transmission of payment information via Straight Through Processing (STP), providing for improved reliability and accuracy

Launch of Bulk Payment
Built on ISO20022 messaging standards, providing banks and businesses with more information on their payments

IMPACT ON SINGAPORE

CONSUMERS

Hassle-free settlement of multiple and recurring bills

BILLING ORGANISATIONS

Enhanced productivity and liquidity

HOW CREDIT TRANSFER WORKS

 

 


HOW COLLECTION WORKS

 

CONTACT US

Banking Computer Services Pte Ltd

11 Tampines Concourse #02-05 Singapore 528729

T +65 6416 9000
F +65 6785 1057
E info@bcs.sg