Bayad, the pioneer brand in the outsourced payment collection industry in the Philippines and now a full-service fintech subsidiary of Meralco, was once again conferred as SSS's Best Non-Bank Collecting Partner during the SSS 2024 Balikat ng Bayan Awards, held on September 19, 2024, at the SSS Building, East Avenue, Quezon City.
Now in its 29th year, the Balikat ng Bayan Awards continues to recognize individuals, employers, and organizations for their adherence to the Social Security System requirements for benefit coverage and distribution, accuracy and promptness in submitting essential reports, and participation in SSS programs.
Bayad's Best Non-Bank Collecting Partner award is a testament to the organization's dedication to providing wider coverage of over-the-counter and digital payment platforms for SSS beneficiaries, enabling a 19% growth rate increase in contribution transactions from 2023 to 2024.
Bayad has also continued to bolster its advocacy programs on financial literacy, a mission that inspires and motivates. This initiative aims to accelerate its shared vision of amplifying financial inclusion in the country.
Bayad president and CEO Lawrence Y. Ferrer underscored, "Bayad is devoted to excellence in elevating Filipinos' payment experience. We continue to expand our network of physical and digital touchpoints to provide SSS beneficiaries with accessible and reliable payment options for their contributions. We are with SSS every step of the way towards our thrust for financial inclusion, and we invite you to be part of this journey."
For government, financial, and banking institutions interested in joining Bayad's extensive biller and payment channel network, please email partnerships@bayad.com.
Bayad enables partners to attain a nationwide presence and provides end-to-end support services for efficient payment and collection processing.
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