BILLS PAYMENT platform CIS Bayad Center, Inc. (Bayad) has partnered with payment gateway Dragonpay Corp. for easier cash-ins and disbursements.
Under the strategic partnership, Bayad customers of accredited Dragonpay merchants can cash in their payments at over 600 Bayad Center and Bayad Partner branches nationwide. Dragonpay merchants can also disburse their income funds at these branches.
“We have seen remarkable strides in the adoption of e-commerce in the Philippines as several financial institutions work together to boost the country’s payment gateway landscape. We partnered with Dragonpay, sharing our mission of empowering both consumers and businesses through convenient, secured, and seamless payment and remittance transactions,” Bayad President and Chief Executive Officer Lawrence Y. Ferrer said in a statement.
“At Dragonpay, we believe in empowering businesses of all sizes by providing them with accessible and reliable payment solutions. Our partnership with Bayad aligns with our mission to drive financial inclusion in the Philippines by offering more convenient cash-in and disbursement options nationwide. Together, we are creating opportunities for merchants and consumers alike, fostering growth in the e-commerce space and contributing to a more inclusive economy,” Dragonpay CEO and Founder Robertson Chiang said.
Bayad is a subsidiary of Manila Electric Co. (Meralco) and a member of the MVP group of companies.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Amc and
