FISC provides government agencies, enterprises, utilities, and financial institutions a platform to credit recurring payroll payments or to debit recurring bills via Batch file transmission solutions, under a scheduled one-time or recurring billing or payment arrangement.

1. Features
The bulk payment system allows businesses, government agencies, and financial institutions to provide their customers with a platform through which to debit or credit accounts for bills of all kinds.

2. Benefits
Benefits to businesses, government agencies, and other organizations: Businesses, government agencies, and other organizations that authorize financial institutions to establish the service can provide their customers with an easy automated payment mechanism, with convenient and secure one-stop payment services offered by authorized financial institutions.

(1) to financial institutions:
Financial institutions that utilize the system can meet the needs of businesses, government agencies, and other organizations for convenient financial services, and provide their customers with a variety of payment and deposit mechanisms.

(2) to customers:
Customers who provide businesses, government agencies, other organizations, or financial institutions with long-term authorizations to make direct debits or credits need never worry about late payments again—the system makes the debits and credits automatically.(back)

Customers provide businesses, government agencies, and financial institutions with long-term authorization to make direct debits and credits. These organizations send batch debit or credit orders to an authorized bank. The bank then transmits them to FISC, which sends the order to the customers' banks, which in turn credit or debit the customers' accounts at scheduled times.

1. Direct debits
Using the bulk payment system, government agencies, businesses, and other organizations can authorize financial institutions or FISC to automatically debit taxes, bills, utilities charges, credit card payments, and insurance premiums from customers' accounts at scheduled times.

2. Direct credits
Using the bulk payment system, businesses, government agencies, and other organizations can authorize financial institutions or FISC to automatically credit customer accounts at scheduled times for payments of bills, tax refunds, utility fees, salaries, and stockholder devidends.(back)