Bayad has shown its commitment to improving financial technology and widening its global presence at the 2023 Singapore Fintech Festival.
Bayad’s presentation was titled “Fueling Progress: Bill Payments as the Catalyst for Digital Economic Growth” and was presented by President and CEO Lawrence Y. Ferrer.
As of now, the Philippines is the top recipient of remittances in Southeast Asia, third in Asia, and fourth worldwide. According to the Bangko Sentral ng Pilipinas’ Digital Payments Transformation Roadmap, payment behavior in the Philippines is predicted to move to at least 50% digital transactions by 2023.
With Bayad’s wide range of services, including electric and water utilities, telecommunications, government contributions, airline booking payments, loans, e-loading, e-wallet top-ups, toll RFID loading, insurance, and memorial, Bayad has continued to be a trusted brand in the industry.
Bayad has also become part of a booth exhibition, together with more than 500 fintech companies from around the world.
In addition, with the launch of Bayad Overseas, Filipinos around the world now have an easier way to pay their bills in the Philippines.
Ferrer said, “Every day, more and more people are choosing to make digital transactions, as seen in the 9.4% share of the digital economy to the GDP of the Philippines in 2022. With the growing Philippine market globally and the increasing preference for digital payment platforms, we want to answer to the demand of Filipinos for a secure and convenient way of managing their bills, wherever they may be, by creating solutions anchored in their bill payment needs.”
He also stated, “And of course, with our dedication to providing Filipinos more payment channels to access our biller partners, we continue to strengthen our omnichannel presence. We currently have over 400,000 physical touchpoints, and we are connected to over 80 million subscribers of leading digital and mobile platforms, spread across domestic and international borders.”
“In fact, 9/10 of all banks and fintechs are connected through our bill payment trail. We stand as a single point of transaction for billing institutions and payment channels who want a faster time-to-market approach,” he included.
In Ferrer’s presentation, he invited the audience to “Capture the global OFW market by partnering with the biller aggregator of choice and the most trusted brand by Filipinos for their payment needs. With Bayad’s physical and digital payment touchpoints, Filipinos are assured of a safe, convenient, and reliable payment transaction, whatever their payment style may be.”
He added, “Bayad is with you in shaping a better world of fintech. Become a Bayad partner today, and together, let’s fuel the expansion of the global digital economy.”
Furthermore, Ferrer indicated that, “As a single point of transaction for billing institutions and payment channels, Bayad offers a faster time-to-market approach, making us the biller aggregator of choice.”
For more information, visit Bayad.