Bayad, the biggest and widest multi-channel payment platform in the Philippines, showcased its commitment to advancing financial technology and expanding its global presence at the 2023 Singapore Fintech Festival.

The highlight of Bayad's participation was the thought-provoking presentation by President and CEO Lawrence Y. Ferrer, where he shared valuable insights on the pivotal role of bill payments in catalyzing digital economic growth.

In his presentation titled "Fueling Progress: Bill Payments as the Catalyst for Digital Economic Growth," Mr. Ferrer emphasized the importance of bill payments in the Philippines and its significant contribution to the country's economy.

The Move Toward Digital

Currently, the Philippines ranks as the largest recipient of money remittances in Southeast Asia, 3rd in Asia, and 4th globally, with the World Bank predicting continued growth in remittances.

Payment behavior in the Philippines is shifting towards digital transactions, with a projected increase to at least 50% in 2023, aligning with the Digital Payments Transformation Roadmap of the Bangko Sentral ng Pilipinas.

The digital economy clearly continues to grow, as “Every day, more and more people are choosing to make digital transactions, as seen in the 9.4% share of the digital economy to the GDP of the Philippines in 2022. With the growing Philippine market globally and the increasing preference for digital payment platforms, we want to answer to the demand of Filipinos for a secure and convenient way of managing their bills, wherever they may be, by creating solutions anchored in their bill payment needs,” said Ferrer.

Bayad's Role in the Bill Payment Industry

Given this, Bayad, formerly known as Bayad Center, has continued to be a trusted brand in the industry for 26 years, initially serving MERALCO customers with alternative bill payment outlets.

Now with a massive ecosystem, Bayad has evolved into the premier bill payments aggregator, serving over 3,000 biller brands from both public and private sectors, covering a wide range of services, including electric and water utilities, telecommunications, government contributions, airline booking payments, loans, e-loading, e-wallet top-ups, toll RFID loading, insurance, memorial and more.

“And of course, with our dedication to providing Filipinos more payment channels to access our biller partners, we continue to strengthen our omnichannel presence. We currently have over 400,000 physical touchpoints and we are connected to over 80 million subscribers of leading digital and mobile platforms, spread across domestic and international borders,” pointed out Ferrer.

“In fact, 9/10 of all banks and fintechs are connected through our bill payment trail. We stand as a single point of transaction for billing institutions and payment channels who want a faster time-to-market approach,” he emphasized.

Bayad Overseas - Expanding Opportunities for Global Filipinos

With the launch of Bayad Overseas, Filipinos around the world now have a convenient way to pay their bills in the Philippines, enhancing their financial experiences globally.

Bayad Overseas aims to support and uplift the global market of Overseas Filipino Workers (OFWs) by providing a secure, convenient, and reliable payment solution for their bill payment needs.

“Capture the global OFW market by partnering with the biller aggregator of choice and the most trusted brand by Filipinos for their payment needs. With Bayad’s physical and digital payment touchpoints, Filipinos are assured of a safe, convenient, and reliable payment transaction whatever their payment style may be,” Ferrer said as he invited the audience.

Partnership for the Future

Ferrer concluded his presentation by welcoming potential partners to collaborate with Bayad, emphasizing the company's commitment to integrity, reliability, and trust.

“Bayad is with you in shaping a better world of fintech. Become a Bayad partner today and together, let’s fuel the expansion of the global digital economy,” he said.

Bayad also participated in a booth exhibition, alongside more than 500 fintech companies from around the world, showcasing its massive biller ecosystem.

"As a single point of transaction for billing institutions and payment channels, Bayad offers a faster time-to-market approach, making us the biller aggregator of choice," said Mr. Ferrer.

Bayad's participation in the 2023 Singapore Fintech Festival marks a significant step toward its mission of empowering individuals and businesses with seamless and convenient bill payment solutions, both domestically and internationally.

To be part of Bayad’s extensive international channel network, you may send an email to partnerships@bayad.com.

As the pioneer and trusted brand for bills payment services in the Philippines, Bayad takes on a more proactive approach in amplifying its “Pay Anywhere” stance, offering a whole suite of financial products and solutions.

Despite the massive shift to digital payments during this time of pandemic, Bayad equally ensures the availability of its physical touchpoints to cater to Filipinos who still depend on cash transactions.

Aside from its Bayad Centers, Bayad has continued to partner with several industries to offer the convenience of over-the-counter transactions. In line with this, Bayad has intensified its partnership with Robinsons Retail Holding, Inc. as it recently relaunched its supermarket brand, Shopwise, establishing its name into an International Grocery Shopping Center, that offers a wider selection of imported and local products.

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 (L-R): Mr. Dennis G. Gatuslao – Bayad Chief Commercial and Marketing Officer, Ms. Arlene Dela Torre – Bayad Head of Group Accounts, Ms. Rosalyn L. Bilog – Robinsons Front End Systems Manager, and Mr. Wendell Kristian P. Labre, Bayad Head of Corporate Branding and Marketing Services.

The said partnership then enables the perks of having to pay bills at Shopwise Business Centers, making the shopping experience a one stop shop solution for customers who are always on the go.

Through Shopwise’s interoperability with Bayad, its Business Centers now accepts bills payment services covering brands from household utilities, government contribution, bank loans, and credit card payments.

Apart from these, they also accept airline ticketing payment services and loading services for telecommunications and transportation.

Bayad President and CEO Lawrence Y. Ferrer shared “We at Bayad are keen in providing efficient and secured financial solutions as we respond to the ever-changing needs of our customers and stakeholders. As Filipinos gradually navigate their way in the new normal and adjust their way back to a face-to-face lifestyle, we continue to strengthen our partnership with brands like Shopwise to foster a better customer experience and drive financial inclusion.”

“We value not just the way people do payments but also all the activities associated with payments.”, added Ferrer.

“For us at Shopwise, we make it a priority to offer to our customers the convenience and access to vital services such as bills payments. Through this convenient service offering from Bayad Center, who has been our trusted partner to deliver value added services to our shoppers, we ensure that a customers’ trip to Shopwise becomes worthwhile and a truly satisfying experience for them,” shared Stanley Co, managing director of the Supermarket segment of Robinsons.

Cebuana Lhuillier, the country’s largest microfinancial services company, recently partnered with  Manila Water Company to allow the utility firm’s customers to pay their bills in any of the more than 1,700 Cebuana Lhuillier branches nationwide.

Leading the signing of the Memorandum of Agreement for the said partnership held in Makati City wereAndre Lhuillier, vice president, Cebuana Lhuillier Services Corporation; Jean Henri Lhuillier, president and CEO, Cebuana Lhuillier; Ferdinand dela Cruz, group director, East Zone Business Operations, Manila Water Company; and Rodell Garcia, chief technology adviser and group director for IT, Manila Water Company.  

Cebuana Lhuillier President and CEO Jean Henri Lhuillier said, “Cebuana Lhuillier is glad to have partnered with Manila Water to provide their customers more options on where to settle their water bills. They may easily go to the nearest Cebuana Lhuillier branch to pay their bills.”

Cebuana Lhuillier also serves as a convenient bills payment station for different partners. In addition to water bills, clients can also pay their telephone bills, utilities, and even tuition fees for selected schools in Cebuana Lhuillier branches. Cebuana Lhuillier also offers pawning, remittance, microinsurance, and e-loading service.

 

“The addition of Manila Water to our list of payment collection partners is a solid proof of our mission to provide Filipinos the convenience and accessibility that they need”, Lhuillier added.

 

Manila Water, a subsidiary of the Ayala Corporation, is a water and wastewater services provider established since 1997. It supplies water services to thousands of homes and establishments in the East Zone area, which is composed of Pasig, Taguig, Makati, Mandaluyong, San Juan, Marikina, some parts of Quezon City and Manila, and the province of Rizal.

For more information, visit any of the more than 1,700 Cebuana Lhuillier branches nationwide. You may also visit the official Cebuana Lhuillier Facebook page atwww.facebook.com/cebuanalhuillierpawnshop and follow its official Twitter account: @kaCebuana.