My understanding is that they can still use the physical card but not for online transactions such as balance inquiry, bills payment and funds transfer. As far as I know, PIL won’t get any fees for card transactions.
This will affect the bank clients who rely on the Internet Payment Gateway (IPG) and BancNetOnline (BOL) for various banking transactions, such as balance inquiry, bills payment and fund transfers, as well as government payments (e.g. LTO, BFAD, Bureau of Customs, DTI, etc). Furthermore, bank clients who are using their ATM cards to make online purchases from BancNet-accredited merchants.
- WHO ARE AFFECTED WITH THE DISCONTINUATION OF THE BOL AND IPG SERVICES OF BANCNET?
06 MAY 2024
FAQs for the BOL and IPG Discontinued Services
BELOW ARE THE FREQUENTLY ASKED QUESTIONS (FAQS) IN RELATION TO THE DISCONTINUANCE OF BOL AND IPG SERVICES
As part of BancNet’s strategic direction, the decision has been made to discontinue all Value Added Services starting July 1, 2024 except for eGov Service[3] and BIR Tax Payments Service[4].
- WHY ARE BANCNETONLINE (BOL)[1] AND INTERNET PAYMENT GATEWAY (IPG)[2] BEING DISCONTINUED?
This will affect the bank clients who rely on the Internet Payment Gateway (IPG) and BancNetOnline (BOL) for various banking transactions, such as balance inquiry, bills payment and fund transfers, as well as government payments (e.g. LTO, BFAD, Bureau of Customs, DTI, etc). Furthermore, bank clients who are using their ATM cards to make online purchases from BancNet-accredited merchants.
- WHO ARE AFFECTED WITH THE DISCONTINUATION OF THE BOL AND IPG SERVICES OF BANCNET?
There will be no changes to your existing accounts or ATM cards as a result of the discontinuation of BancNetOnline and Internet Payment Gateway. Your accounts and ATM cards will remain active for other banking transactions provided by your bank.
- WILL THERE BE ANY CHANGES TO THE EXISTING ACCOUNTS OR ATM CARDS DUE TO THE DISCONTINUATION?
PBCOM Debit/Cash cardholders will lose access to BancNetOnline (BOL) for balance inquiries, bill payments, and fund transfers. Additionally, you will no longer be able to make online payments through Internet Payment Gateway for electronic shopping and government payments.
- WHAT WILL HAPPEN TO PBCOM DEBIT/CASH CARD HOLDERS FOR THESE DISCONTINUED BANCNET’S FACILITIES?
PBCOM ATM cardholders can still conduct online bill payments through PBCOM's digital channels, such as POP Personal, POP Business, and PBCOMobile. Additionally, they can continue making online payments to merchants accredited under MasterCard since our card is also affiliated with the MasterCard International Card Network.
- WHAT ALTERNATIVE SERVICES ARE AVAILABLE FOR CONDUCTING ONLINE TRANSACTIONS?
PBCOM virtual cards remain eligible for BancNet’s eGOV and BIR Tax Payment Gateway after enrollment/registration. However, following the discontinuation of BancNet’s Internet Payment Gateway (IPG), these virtual cards cannot be used for online payments directly through the websites of certain government agencies accredited as BancNet’s online merchants.
- CAN OUR PBCOM CORPORATE CLIENTS HOLDING VIRTUAL CARDS STILL MAKE PAYMENTS ONLINE ON GOVERNMENT AGENCIES?
All BancNet’s accredited online merchants, including government agencies, will no longer be able to accept and process online payments via BancNet card network starting July 1, 2024.
- HOW WILL THIS CHANGE AFFECT BANCNET ONLINE MERCHANTS, PARTICULARLY GOVERNMENT AGENCIES THAT ACCEPT BANCNET ATM CARDS FOR ONLINE PAYMENT?
BancNet will delete the recorded data from the database and the server will be formatted.
- WHAT WILL HAPPEN TO THE INFORMATION REGISTERED IN BANCNETONLINE (BOL) AFTER ITS DISCONTINUANCE?
____________________________________________________________________________________________________________________________
[1] BancNetOnline (BOL) – BancNet's online banking facility enables ATM cardholders of BancNet member banks to enroll/register their issued ATM cards, allowing them to perform transactions through this platform (e.g. Balance Inquiry, Bills Payment and Fund Transfers). Additionally, this feature enables the issued ATM cards to make online payments for BancNet-accredited online merchants via E-shopping platform
[2] Internet Payment Gateway (IPG) – BancNet's payment service technology securely connects businesses (BancNet-accredited merchants) and customers (ATM cardholders of BancNet member banks), facilitating the processing of online payments for electronic shopping (E-Shopping)
[3] BancNet eGOV is a web-based online filing and payment facility for corporate clients to perform online filing and settlement of government mandatory contributions and loan payments for SSS, PhilHealth and Pagibig government agencies.
[4] BIR Tax Payments – is BancNet’s multi-banking payment gateway for corporate clients to do online filing of tax returns and payment of tax liabilities.
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