CIS Bayad Center, Inc., or Bayad, the country’s biggest and widest multi-channel payment platform, and Philippine National Bank, the fifth-largest bank in the country, have partnered to make it easier for Filipinos to settle payments electronically.
In a recently held virtual signing of a memorandum of agreement, the two companies forged a partnership that would allow Meralco postpaid customers to pay their bills in real-time through the PNB Digital App.
According to Bayad’s President and CEO Lawrence Y. Ferrer, “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. 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.”
This strategic partnership offers a one-stop-shop solution for 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, aside from Meralco.
PNB President and CEO Wick Veloso said the bank’s partnership with Bayad addresses the customer’s increasing preference for online transactions. “Partnering with a reliable and trusted name fully supports our efforts to provide safer banking to our customers and the banking public,” he said. “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.”
To date, Bayad collects for more than 450 biller brands from basic utilities such as electricity and water, cable & 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, you may send an email to email@example.com. Bayad enables partners to attain a nationwide presence and provides end-to-end support services for efficient payment and collection processing.