BSP grants EMI license for Bayad App

In the face of an expanding digital economy and the country’s aim to become a cash-lite society, Bayad, the Philippines’ most trusted payment authority, obtained its license to operate as an Electronic Money Issuer (EMI) from the Bangko Sentral ng Pilipinas.

The EMI license authorizes the company to deliver e-wallet services through its newly revamped all-in-one pera transaction app, Bayad. The accreditation allows the company to convert consumers’ cash into electronic money which they can use to transact online to pay bills, remit money, purchase mobile load, and shop for products and services in partner merchant stores. In addition, customers can withdraw and add money to their Bayad wallets through online bank transfers and over-the-counter Bayad Centers.

Bayad App customers can soon expect to pay over 1,000 types of bills – from utilities, insurance, government contributions and services, and more – a service that has long been enjoyed by payers transacting through Bayad’s over 45,000 physical touchpoints nationwide. Other valuable services such as QR payments, rewards, insurance, savings accounts, personal loans, and credit scoring will also be enabled.

GSIS names Bayad Center as payment solutions partner for loan settlements

 In  photo: Mr. Lawrence Ferrer, CEO and President of Bayad Center (left) and GSIS President and General Manager Rolando Ledesma Macasaet (right)

Bayad Center, the country’s biggest and widest multi-channel payment platform, has been named as the official payment solutions partner of the Government Service Insurance System (GSIS) for loan settlement. 

In a virtual partnership signing, the two financial institutions expressed their mutual aim to make GSIS loan repayment more accessible, convenient, and secure for all members and pensioners especially those in the provinces. 

“Enabling simple and hassle-free over-the-counter financial transactions for borrowers is one way of helping them meet monthly obligations. It is our hope that they will be able to reap the full benefits of their loans, and at the same time efficiently manage and repay them on time. Ultimately, we want Bayad Center to be readily available for every Filipino’s financial needs, providing meaningful payment and financial services wherever they may be,” Bayad Center President and CEO, Lawrence Ferrer explained. 

Bayad Center expands footprint and announces LRMC partnership

Understanding Filipinos’ diverse and evolving financial needs, CIS Bayad Center, Inc., the country’s biggest and widest multi-channel payment platform, is bent on strengthening its brick-and-mortar business alongside its efforts to expand its digital footprint.

About 64% of the 10 million monthly transactions come from over-the-counter payments as physical touchpoints have reached 40,000 as of third quarter of 2020. During this period, 26 new branches were opened while 10 digital & authorized partners and 13 new billers were activated as well. 

Bayad Center’s biller and partner acquisition efforts play a critical role in continuously expanding its onsite to online platform (O20), giving Filipinos wider payment options and greater accessibility to relevant financial services.  

Bayad Center, CFO partner to provide payment convenience for Filipinos overseas

A ceremonial e-signing event was held to formalize the partnership which aims to bring accessible, secure, and reliable payment solutions closer to Filipinos abroad.  In this photo:  Mr. Lawrence Ferrer, CEO and President of Bayad Center (upper left), MultiSys Technologies Corp. founder and CEO David Almirol Jr. (upper right) Justice Francisco P. Acosta (Ret), Secretary and Chairperson of CFO (center) 

In view of continuing mobility restrictions as part of the country’s on-going fight against the COVID-19 pandemic, CIS Bayad Center, Inc., presses on creating solutions to make payments more accessible, convenient, and safe for Filipino payers. 

The Commission on Filipinos Overseas (CFO), the government agency responsible for upholding the interests, rights and welfare of overseas Filipinos, supports Bayad Center’s mission, which echoes its initiatives to serve the needs of some 10.2 million Filipino overseas spread across 200 locations across the world. 

Bayad Center and CFO, along with leading software provider, MultiSys Technologies Corporation, recently forged a tripartite partnership that will overall ease the payment process for departing Filipino emigrants, Filipino spouses and partners of foreign nationals and other CFO clientele providing them with physical and digital  options to transact amid the COVID-19 pandemic. 

Bayad Center rolls out donation drive across Luzon

 

In photo (L-R) are Pasig City Councilor Mario Concepcion, Bayad Center Marketing Head Wendell Labre, Pasig City Mayor Vico Sotto, and One Meralco Foundation President Jeffrey Tarayao during the “BAYADnihan, Tulong-tulong para sa Bayan” community outreach.

Inspired by the Filipino bayanihan spirit, CIS Bayad Center, Inc. spearheaded a corporate social responsibility (CSR) initiative called “BAYADnihan, Tulong-tulong para sa Bayan”, to benefit hundreds of vulnerable individuals and families who continue to experience hardships amid on-going quarantine restrictions in this time of COVID-19.   

With the said initiative, the simple act of settling bills was turned into an opportunity to help Filipinos in need as a portion of customer payments made at any Bayad Center branch or using the mobile app from March 1 to April 30, 2020 were donated to its CSR partner, One Meralco Foundation. Bayad Center employees also pledged a part of their salaries to further the cause.

Bayad Center’s BAYADnihan campaign makes bills payment more meaningful

While most utility and loan companies have announced extended due dates for bills payment in consideration of the COVID-19 pandemic, those who are able to still pay on schedule can contribute to the spirit of bayanihan and help their fellows in need while still managing their finances responsibly.

Even the simple act of paying bills can be a way to help disadvantaged individuals and communities through Bayad Center’s “BAYADnihan, Tulong-tulong para sa Bayan” campaign.