Friday, June 21, 2024

CFO allows Bayad Center to accept fees from departing Filipino emigrants

The Commission on Filipinos Overseas (CFO) and CIS Bayad Center, along with software firm MultiSys Technologies Corporation, recently forged a tripartite partnership that will provide physical and digital payment options for departing Filipino emigrants, Filipino spouses and partners of foreign nationals, and other CFO clientele amid the Covid-19 pandemic.

A ceremonial e-signing event was held to formalize the partnership which aims to bring payment solutions closer to Filipinos abroad. Photo shows Lawrence Ferrer, CEO and president of Bayad Center (upper left), MultiSys Technologies Corp. founder and CEO David Almirol Jr. (upper right) CFO chairperson Francisco P. Acosta

With the partnership, CFO clientele can settle payments through any of Bayad Center’s 39,000 touchpoints as well as the Bayad Center mobile app.

Having expanded payment options will help payers save cost and time as they no longer need to personally visit CFO offices to fulfill financial transactions, according to a statement from CIS Bayad Center.

While in the pilot phase, Bayad Center said it will initially accept payments for the Pre-Departure Orientation Seminar (PDOS) and the Guidance and Counseling Program (GCP). By the fourth quarter of this year, all CFO payment transactions will be covered by Bayad Center.

“I believe that with this undertaking, we are able to leverage available financial technologies developed by the private sector for us to harness and deliver more digital payment services throughout our archipelago. With our willingness to accept e-payments, we are helping the country reach its financial inclusion objectives, and millions of Filipinos appreciate the economic and social benefits of digital payment services,” said CFO chairperson Francisco P. Acosta.

He also emphasized that financial inclusion is one way to achieve a successful implementation of e-governance in the country.

According to Bayad Center CEO and president Lawrence Ferrer: “It is our privilege to be chosen as a payment partner of the Commission on Filipinos Overseas. We continuously aim to partner with more government agencies so we can deliver meaningful financial services to various members of our society. We are humbled that they trust us to provide a dependable outsourcing payment collection system”.

Currently, Bayad Center is also the payment partner of the Social Security System (SSS), Home Development Mutual Fund (PAG-IBIG), Philippine Health Insurance Corp. (PHILHEALTH), National Bureau of Investigation (NBI), Department of Foreign Affairs (DFA), Tourism Infrastructure and Enterprise Zone Authority (TIEZA), Department of Trade and Industry (DTI), Philippine Overseas Employment Administration (POEA), Maritime Industry Authority (MARINA), Metropolitan Manila Development Authority (MMDA), National Housing Authority (NHA), National Home Mortgage Finance Corp. (NHMFC), and Small Business Corporation (SBC).


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