Mileage Communications is proud to help Singapore E-Business Pte Ltd (SGeBIZ) publicise its role as a payment aggregator and a provider of B2B solutions. In offering the recently-launched electronic GIRO (eGIRO) as a payment collection option for businesses on its platform, SGeBIZ will help its customers to adopt this new initiative and enhance their productivity.
SGeBIZ’s EzyPayment eGIRO platform will enable its customers to reduce costs, gain greater operational efficiency, streamline workflow as well as improve liquidity and cash flows.
GIRO, an electronic direct debit system for recurring bill payments from bank accounts, was introduced in 1984.
However, before eGIRO, the application to set up a GIRO arrangement has been a manual one—consumers or businesses fill in paper forms and mail them to their billing organisations which process the applications and send them to the specified bank.
The banks in turn process the forms and send confirmations to the billing organisations. The whole process takes about three to four weeks.
With the launch of eGIRO by the Association of Banks in Singapore on 8 November 2021, consumers and businesses can now make arrangements to pay their bills in minutes.
Apart from SGeBIZ, 13 billing organisations such as the Central Provident Fund Board and Housing and Development Board also provide eGIRO services.