MANILA

Bayad Center, CFO partner to provide payment convenience for Filipinos overseas

MANILA. A ceremonial e-signing event was held to formalize the partnership that aims to bring accessible, secure, and reliable payment solutions closer to Filipinos abroad. In this photo are Lawrence Ferrer, CEO and President of Bayad Center (upper left), MultiSys Technologies Corp. founder and CEO David Almirol Jr. (upper right), Justice Francisco P. Acosta (Ret), secretary and Chairperson of CFO (center). (Contributed photo)

IN VIEW of continuing mobility restrictions as part of the country’s ongoing fight against the Covid-19 pandemic, CIS Bayad Center Inc., presses on creating solutions to make payments more accessible, convenient, and safe for Filipino payers.

The Commission on Filipinos Overseas (CFO), the government agency responsible for upholding the interests, rights and welfare of overseas Filipinos, supports Bayad Center’s mission, which echoes its initiatives to serve the needs of some 10.2 million Filipino overseas spread across 200 locations across the world.

Bayad Center and CFO, along with leading software provider, MultiSys Technologies Corporation, recently forged a tripartite partnership that will overall ease the payment process for departing Filipino emigrants, Filipino spouses and partners of foreign nationals and other CFO clientele providing them with physical and digital options to transact amid the Covid-19 pandemic.

With this partnership, CFO clientele can enjoy the convenience of settling payments through any of Bayad Center’s 39,000 touchpoints, as well as the Bayad Center mobile app. Having expanded payment options will help payers save cost and time as they no longer need to personally visit CFO offices to fulfill financial transactions.

While in the pilot phase, Bayad Center will initially accept payments for the Pre-Departure Orientation Seminar (PDOS) and the Guidance and Counseling Program (GCP), By the fourth quarter of this year, all CFO payment transactions will be covered by Bayad Center.

“I believe that with this undertaking, we are able to leverage available financial technologies developed by the private sector for us to harness and deliver more digital payment services throughout our archipelago. With our willingness to accept e-payments, we are helping the country reach its financial inclusion objectives, and millions of Filipinos appreciate the economic and social benefits of digital payment services,” said by Justice Francisco Acosta (Ret), secretary and chairperson of CFO.

He also emphasized that financial inclusion is one way to achieve a successful implementation of e-governance in the country.

Lawrence Ferrer, CEO and president of Bayad Center, said: “It is our privilege to be chosen as a payment partner of the Commission on Filipinos Overseas. We continuously aim to partner with more government agencies so we can deliver meaningful financial services to various members of our society. We are humbled that they trust us to provide a dependable outsourcing payment collection system.”

Currently, Bayad Center is also the payment partner of the Social Security System, Home Development Mutual Fund (Pag-Ibig), Philippine Health Insurance Corp., National Bureau of Investigation, Department of Foreign Affairs, Tourism Infrastructure and Enterprise Zone Authority, Department of Trade and Industry, Philippine Overseas Employment Administration, Maritime Industry Authority, Metropolitan Manila Development Authority, National Housing Authority, National Home Mortgage Finance Corp., and Small Business Corporation.

As the pioneer and market-leader in the outsourced bills payment collection industry, Bayad Center continues to expand its network of billers and partners, cementing its position as the biggest and widest multi-channel payment platform in the Philippines. (PR)


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