In an effort to make greater strides in the country's digital payment transformation, CIS Bayad Center Inc. — the pioneer brand in the outsourced payment collection system and a full-service fintech subsidiary of Meralco — has renewed its partnership with Ventaja International Corp., a fintech institution initially developed as a telecom prepaid card provider for Filipino migrant workers based overseas.
Ventaja is now offering a variety of financial services such as remittance, loading and bills payment services for both government and household utilities, all of which are powered and supported by Bayad's robust biller aggregator system.
Bayad brings in Meralco, Autosweep, Easytrip, SSS and many other biller brands into Ventaja's mobile application called Payremit and through Ventaja's domestic and international payment centers.
With this setup, Filipinos overseas can help settle their families' bills in the Philippines and regularly pay for their government contributions at the same time.
Bayad president and CEO Lawrence Y. Ferrer said, "We continue to expand our payment footprint globally as we aim to elevate the payment experience of our kababayan. Our goal is centered on boosting their financial wellbeing as we help them seamlessly settle their families' bills in the Philippines and, at the same time, invest for their future through government contributions."
"We are with Ventaja in helping OFWs strengthen their ties to home, and we highly value every story of hard work that our kababayan experience before they are able to provide for their families' needs back home," Ferrer added.
For his part, Ventaja president and CEO Vincent D. Grey said, "We are thrilled and grateful for our renewed partnership with Bayad as we both maximize the opportunity to offer enhanced payment services to Filipinos overseas. This way we can further financial inclusion and help boost the country's economic growth."
Bayad enables partners to attain a nationwide presence and provides end-to-end support services for efficient payment and collection processing.