Bayad Wins Prestigious Award: Is It the Future of Fintech in the Philippines?

Bayad, the leading brand in outsourced payment collection in the Philippines, has been recognized as the Best Non-Bank Collecting Partner by the Social Security System (SSS).

The award was presented during the SSS 2024 Balikat ng Bayan Awards on September 19, 2024, at the SSS Building in Quezon City.

Now in its 29th year, the Balikat ng Bayan Awards honors organizations that excel in compliance with SSS requirements for benefit coverage and timely reporting.

Bayad’s accolade underscores its commitment to expanding over-the-counter and digital payment platforms for SSS beneficiaries.

This dedication has resulted in an impressive 19% growth in contribution transactions from 2023 to 2024.

In addition to operational success, Bayad actively promotes financial literacy to enhance financial inclusion across the nation.

Lawrence Y. Ferrer, President and CEO of Bayad, emphasized the company’s mission to elevate the payment experience for Filipinos.

He stated that Bayad is devoted to providing accessible and reliable payment options for SSS contributions.

Ferrer invited government and financial institutions to join Bayad’s extensive network of payment channels.

As Bayad continues to innovate, it positions itself as a pivotal player in the evolving fintech landscape of the Philippines.