In an era marked by the rapid embrace of digital financial services, the Philippines has become a growing hub of innovation, with an increasing number of users leveraging the benefits of electronic payments, money transfers, loans, and digital banking solutions.
Amid this digital transformation, Bayad, the Philippines’ pioneer and leading figure in outsourced bill payment collection, is enhancing its role in the industry’s interconnected landscape. The company has notably increased its network of payment touchpoints by 75 percent between 2022 and 2024, solidifying its commitment to providing comprehensive and accessible payment solutions.
Evolution of the business
Bayad’s expansion strategy extends beyond its proprietary over-the-counter and digital platforms.
The company collaborates with top retail establishments, banks, fintech institutions, mobile application providers, and e-wallet providers, offering versatile payment options for various bills. This initiative is part of Bayad’s rebranding from Bayad Center to a more holistic Bayad, reflecting its evolution into a multi-channel payment platform. This transition aims to meet the diverse needs of the Filipino populace by offering an array of services, including utility, telecommunications, internet, insurance, and government payments, among others.
“We value not just the way people do payments, but we also help institutions to thrive and expand. We are continuously navigating opportunities that will not only help elevate the lives of Filipinos individually but will also bring economic resilience in the country. All our efforts in maximizing industry interconnectedness is set to help shape the future of a financially empowered Philippines,” Lawrence Y. Ferrer, Bayad’s President and CEO said.
Bayad’s recent partnerships with digital banks and mobile applications such as GoTyme, Tala, RCBC Diskartech, BillEase, PalawanPay, and Ventaja, alongside new biller additions like PisoPay.com and Sun Life Grepa, underscore its ongoing efforts to widen its service network. These collaborations aim to facilitate seamless payment processes for both consumers and institutions across the nation.
Maintaining brick-and-mortar, empowering small business owners
Despite the surge in digital payment adoption, Bayad remains committed to maintaining its physical presence through its partnership with leading establishments in the country such as supermarkets, convenience stores, pawnshops, and remittance centers. The company continues to support cash-based transactions, catering to a segment of the population reliant on traditional payment methods. Through its franchise model, Bayad offers entrepreneurs the opportunity to become part of a vast network of bill payment services, further extending its reach to underserved communities.
Moreover, Bayad has embraced the digital payment revolution’s impact on small businesses, enabling community establishments like sari-sari stores, water refilling stations, eateries, and pet shops to offer additional services such as bill payments and electronic loading.
This initiative not only enhances the convenience for local communities but also supports the growth of micro, small, and medium enterprises (MSMEs) by integrating them into the Bayad Agent network. For those interested in becoming a Bayad Agent, the requirements are simple. The prospective agent just needs to have an existing business with a store front, a smartphone, and internet or data connection.
Convenience for OFWs
On an international scale, Bayad is advancing the concept of borderless payments, particularly for Filipinos working abroad. The company has partnered with PLDT Global, Ventaja International Corp., and Omega Business Consulting Inc., facilitating easier and more secure ways for overseas Filipinos to manage their finances and contribute to their families’ needs back home.
“We will continue to help usher financial inclusion in the global landscape. We want to answer to the demand of Filipinos overseas for a secure and convenient way of managing their finances while empowering them to strengthen their ties to home,” Bayad President and CEO Ferrer said.
“Now more than ever, our goal is not just to bring payments closer to Filipinos but to create closer connections that will enable them to elevate their quality of living,” he added.