Bangkok--2 Jul--Bangkok Bank
Bangkok Bank has introduced Bank Payment Obligations (BPO), a new payment service for international trade that will help importers and exporters by providing more efficiency, speed and flexibility. Once trade partners submit information through an electronic channel, Bangkok Bank will guarantee the payment on behalf of the buyer. This service guarantees sellers they will receive payments in compliance with the terms and conditions without needing to wait for document verification.
Bangkok Bank Executive Vice President Pornnit Dunnvatanachit said Bangkok Bank is now offering Bank Payment Obligations (BPO) which is a popular payment service among international traders. This will provide more convenience and flexibility for international trade customers. BPO is an electronic payment service that relieves importers and exporters of the document verification process. Once both the trade partners have submitted trade information to the banks providing the BPO service, the banks’ data matching systems will recheck the information of each partner. If the information matches, issuing banks will issue the BPO as a guarantee that the buyer will make the payment to the seller via the advising bank once the foreign seller has successfully complied with the terms and conditions. The BPO is another good payment option for importer and exporters.
Bangkok Bank is confident that importers and exporters will be interested in this new service. Bangkok Bank staff, who are experts experienced in international trade services, understand their customers’ businesses and are able to meet their needs. Bangkok Bank has an extensive trade service network including 62 Trade Service Centers nationwide, 2,000 cooperate oversea banks, 26 international branches and a representative office in major economies worldwide. So this means importers and exporters in Thailand and abroad can access our service conveniently, Ms. Pornnit added.
Interested customers can find more information from our Trade Service Department at 0-2680-9559/0-2230-2322, at any of our 62 Trade Service Centers nationwide