Bayad Center Pushes for Increased Branches, Online Platforms

Continued increase in the number of branches and online platforms are among the goals of the newly-appointed chief of the multi-channel payment platform, CIS Bayad Center Inc.

CIS Bayad Center Inc. said it plans to open more than 200 sites for both the franchisees and local corporate partners under the leadership of its new president and chief executive officer (CEO) Lawrence Ferrer.

“Under the new management of Mr. Ferrer, Bayad Center remains committed to making payments readily available for every Filipino anytime and anywhere. We are focused on strengthening both our onsite and online platform so our customers can enjoy greater accessibility, wider options, and seamless experience,” it said.

Ferrer succeeded Manuel Tuason, who retired from a 15-year stint as the company’s president and CEO.

The company said the new branches will be opened depending on the requirements of their corporate partners and franchisees.

“Generally, our selection for new branches is highly influenced by the market potential of the area, the biller presence, and the viability of the Retail and Money Services (RMS) products as recommended by the partners. Our decision is always based on research and deep market insights,” it said.

The company is also strengthening its business-to-consumer (B2C) channels, such as the mobile app and online bills payment.

This, as the company recognizes “the global thrust toward digitalization and the changing needs of Filipino payers, especially in this ‘new normal’ set up brought about by the ongoing health crisis.”

“We continue to enhance our API (application programming interface) platform as we believe this allows for establishing competitive advantage and service expansion,” it said.

With an enhanced API, the company added it can work with more billers, such as local government units (LGUs), incorporate utilities into its bills payment infrastructure, enable channel partners in fintech and banking industries, as well as achieve quick and seamless bills payment services for retail chains.

To date, Bayad Center has 39,000 payment touchpoints around the country, with daily transactions of over 10,000.

Aside from bills payments, it also services domestic and international remittances, insurance sales, medical reimbursement, ferry and airline ticketing, automated teller machine (ATM) withdrawal, and loan disbursement, among others. (PNA)