Customers who use Bayad can now pay their bills in installments through a partnership with BillEase, a popular consumer finance app.
The partnership allows BillEase users to access over 100 billers from various sectors such as utilities, telecommunications, government, education, e-commerce, and insurance through the Bayad feature in the app. Customers can choose to pay later for bills up to PHP 1,000 or pay monthly for up to 12 months with interest rates as low as 3.49%.
Georg Steiger, CEO and co-founder of BillEase, said the partnership aims to promote financial inclusion and digitalization in the Philippines by providing accessible and convenient bills payment services.
“Our partnership with Bayad plays a pivotal role in the promotion of financial inclusion and digitalization in the country, as we enable accessible and convenient bills payment services that aim to help our customers manage all their finances in one app,” said Steiger.
Lawrence Y. Ferrer, president and CEO of Bayad, a subsidiary of Manila Electric Co. (Meralco), said the partnership is part of Bayad’s efforts to expand its network of billers and provide greater financial inclusivity to the public.
“We are one with BillEase in leveraging financial digitalization through our one-stop-shop payment solution. We are steadfast in bridging people and businesses as we continue to scale up our billers in the BillEase app,” he said.
The partnership was formally launched in a virtual event attended by executives from both companies on Tuesday.
In the photo: Executives of Bayad and BillEase meet for the signing of the partnership to enable customers to settle their bills in a more convenient way via installments. Seen in the photo are (from L-R) BillEase Head of Merchant Products Kurt Molina, BillEase Co-Founder and Chief Financial Officer Ritche Weekun, Bayad President and CEO Lawrence Y. Ferrer, and Bayad Chief Commercial and Marketing Officer Dennis S. Gatuslao.