Bayad (previously known as Bayad Center), a wholly-owned unit of MERALCO, has just launched an easy-to-use app that aims to increase the income potential of sari-sari store owners and micro-entrepreneurs throughout the country.
Called “Bayad Asenso,” this new service feature from the country’s most trusted payments authority makes payment of bills safer and more convenient for Filipinos. There is no need to line up for hours at several service providers. It also empowers fledgling entrepreneurs, particularly in areas where financial institutions and payment centers for utilities are not easily accessible.
The requirements are simple. Prospective agents just need to have an existing business with a storefront. He or she should also own a smartphone that has Internet access. For sari-sari store operators, Bayad will no longer require minimum capital to make it easier for these small shop owners to become agents of the company.
Bayad Agents are offered multiple options for funding their wallet, account management, reports, and transaction history. Customer support, QR payments, and rewards are also backed up by Bayad, the pioneer and authority in outsourced payment collection services in the Philippines.
Bayad currently has 104 million digital footprints and over 450 accepted brands. It processes more than 10 million transactions, such as payment of bills, every month.