PLDT Inc., Manila Electric Company (Meralco), and Metro Pacific Investments Corporation (MPIC)’s DigiCo have acquired a 10% stake in CIS Bayad Center, Inc. (Bayad) to help fast-track the Philippines’ transition to digital payments.
Bayad, formerly known as Bayad Center, is a pioneer in the outsourced bills payment collection service in the country. With a network that facilitates collections for over 400 private and government institutions, Bayad’s platform is currently utilized by more than 120,000 major retail establishments, neighborhood stores, and leading fintech and electronic money institutions nationwide.
“Over the past 27 years, Bayad has transformed the landscape of outsourced payment collections in the Philippines, standing as a cornerstone of financial inclusion. We bridge the gap between consumers and businesses by offering accessible, reliable, and impactful payment solutions. Our continued success reflects the deep trust placed in us by billing institutions, government agencies, payment channels, and the Filipino public. DigiCo’s belief in our vision to financially empower Filipinos is both humbling and motivating. Together, Bayad and DigiCo aim to create a future that advances the digital and financial well-being not only of the MVP Group but of the entire nation,” said Bayad President and CEO Lawrence Y. Ferrer.
DigiCo Chief Commercial Officer Kat Luna-Abelarde emphasized, “DigiCo is committed to leveraging its expertise and resources to support Bayad’s growth while exploring synergies within the MVP Group. This acquisition marks another significant step in our journey to foster innovation-led growth, aligning with the MVP Group’s support for the government’s push for digitalization and financial inclusion for Filipinos nationwide.”
In addition to this investment, DigiCo has also invested in Multipay Corp. (Multipay), a wholly-owned subsidiary of Multisys Technology Corp. (MTC).
