A partnership between CIS Bayad Center, Inc., also known as Bayad, the nation’s biggest and widest multi-channel payment platform, and the Philippine National Bank, the fifth largest bank in the country in terms of total assets, was recently concluded to make it easier for Filipinos to settle their payments electronically.
In a virtual signing of the memorandum of agreement, the two companies forged a partnership that would allow Meralco postpaid customers to pay their bills digitally and in real-time through the PNB Digital App.
In Photo (L-R): Mr. Dennis G. Gatuslao – Bayad Chief Commercial Marketing Officer, Mr. Wick Veloso – Pnb President And Ceo, Ms. Muffet Flores – Caculitan – Pnb Senior Vice President And Institutional Transaction Banking Group Head, And Mr. Lawrence Y. Ferrer – Bayad President And Ceo
“We at Bayad take on an ecosystem-oriented stance which we believe is key in accelerating growth for our company, partners, and industry as a whole,” said Bayad President and CEO Lawrence Y. Ferrer, “We also continue to innovate and introduce key features in our system such as Bayad’s real-time posting of payments to offer them the ease and convenience of transacting with us.”
A one-stop-shop solution is offered by this strategic partnership to provide the best customer experience. With Bayad as a payment gateway of PNB, both companies will eventually onboard more biller partners on the PNB Digital App besides Meralco.
According to PNB President and CEO Wick Veloso, the bank’s partnership with Bayad addresses the customer’s increasing preference for digital transactions.
“Partnering with a reliable and trusted name fully supports our efforts to provide safer banking to our customers and the banking public,” he added. “As our country enters a new phase in its history where our new normal is characterized by going digital and contactless, this partnership is very timely as we are able to serve the bills payment needs of our customers while helping them stay safe at the same time.”
Bayad collects for more than 450 biller brands from basic utilities such as electricity and water, cable and internet, to government contributions and loan payments, school tuition fees, online shopping, insurance, and many others.
For banks and financial institutions like PNB that are interested to be part of Bayad’s extensive channel network, they may send an email to partnerships@bayad.com. Bayad enables partners to attain nationwide presence and provides end-to-end support services for efficient payment and collection processing.
Bayad is the pioneer and trusted brand in the outsourced payment collection service in the Philippines, aggregating a multitude of billers into a robust system that is now being used by more than 100,000 physical touchpoints and leading digital and mobile platforms across the country. Formerly known as Bayad Center, it continues trailblaze the industry as it evolves from an over-the-counter (OTC) payment center into a full-service fintech service company, offering a whole suite of financial products & services available to both consumers and businesses.
Meanwhile, the Philippine National Bank is one of the country’s largest private universal banks in terms of assets and deposits. It provides a full range of banking and other financial services to its highly diverse clientele comprised of individual depositors, small and medium enterprises, domestic and international corporations, government institutions, and overseas Filipinos. Backed by over a century of stability and excellence, PNB looks forward to more years of serving its customers first. To know more about PNB, visit its official website: www.pnb.com.ph.
Source: Yugatech
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