Filipino Financial Empowerment: Lawrence Y. Ferrer


With digital taking over cash transactions, the majority of the market is constantly looking for more convenient ways to meet their bill paying needs. It’s a situation that Bayad, formerly known as Bayad Center – the pioneer and industry leader of outsourced bill collection service in the Philippines – understands only too well.

As a subsidiary of Manila Electric Company (Meralco), the country’s largest electricity distribution conglomerate, Bayad has grown from an over-the-counter payment collection service to a full suite of financial products and solutions available to consumers and businesses.

“All of our efforts at Bayad are directed towards the belief that Filipinos deserve to be rewarded for their hard work. Our goal is to improve their financial experience – by providing solutions for individuals and businesses that effectively help make payments more convenient and transparent, while being safe and secure at the same time,” shares the President and CEO. de Bayad, Lawrence Y Ferrer.

To have Meralco as the sole invoice issuer in 1997, bayad is now proud to have the largest billing network, building on its “Pay Anywhere” position through its commercial franchise model and enabling major establishments and digital platforms nationwide.

On where Bayad is heading in the coming years, Lawrence explains, “We are even more committed to expanding our billing and channel network as we continue to listen to the different needs of our customers from all walks of life – whether they are housewives, students living away from their families, busy professionals, businessmen and Filipinos abroad.

Lawrence led the organization to become a digital-first institution, supporting Bangko Sentral ng Pilipinas’ 2023 goal of 50% of financial transactions to be conducted digitally.

With this in mind, Bayad has launched its own mobile and web application to cater to the younger, tech-savvy market, including on-the-go professionals, as well as overseas Filipinos.

As the digital era of payments advances, Bayad is proactively advancing its ability to display real-time payments, enabling instant and seamless transactions. This service feature has been a boon to consumers and business partners as it enables seamless data integration and provides reliable account statements and reporting.

On financial inclusion

Laurent Y Ferrer

With over 20 years of solid business development and brand management experience in telecommunications, fintech and banking, Lawrence – or LYF as he is affectionately known at the office – is a true game changer and subject matter expert. on innovation and digitization.

He was credited for championing the Smart Electronic Load – “Eload” service, which offered prepaid charging credits and micro-recharges. The service gained popularity when cell phones were introduced to the country, as it allowed for local convenience, affordability and accessibility. Today, wherever you go in the Philippines, you can find a store that offers an eloading service.

With financial inclusion being a hallmark of Lawrence’s time in this role, he ensures that Bayad’s market strategy is tailored to the needs of its growing consumers and different business sectors across the country.

Lawrence spearheaded the company’s rebranding initiative by introducing a Bayad bigger, better and younger.

Bigger represents the expansion of new payment channels, both in physical and digital spaces; Better represents Bayad’s ability to offer a wide range of financial products and services backed by a more robust cybersecurity posture; and Younger reflects a modern look while bringing the trust and integrity the company has known for over 24 years.

True to its mission, Bayad advocates financial literacy as an essential component of financial inclusion. Through its proactive collaboration with the government’s Ministry of Education, Bayad continues to integrate financial management into the curriculum for secondary school students in adopted public schools in the provinces.

“We recognize the role of young people as catalysts for financial inclusion. With this, we continue to amplify our advocacy for financial literacy, as we turn our learners into financial champions, helping our country recover from the economic disruption caused by the global pandemic,” said Lawrence.

On promoting strategic partnerships

Paying bills is an inevitable part of life, and it always gives a great sense of relief once we are able to pay them on time. That’s why Bayad continues to develop accessible bill payment solutions where customers won’t have to worry about having their home services cut off.

Through open collaboration with leading corporations, financial institutions and digital enterprises, Bayad has expanded its outlets nationwide and integrated bill payment portal customization on its mobile and web apps. partners. This development has also paved the way for an efficient retail system, which now supports micro, small and medium enterprises that offer Bayad’s financial services to their respective communities.

While Bayad addresses the local level, the company also promotes digital transformation and, at the same time, preserves the value of its physical activity.

Ultimately, sustainability and innovation are the foundation of the company’s initiatives. Set up to ensure customer- and business-centric solutions, Lawrence says, “We not only value how people make payments, but we also help institutions thrive and grow. Together, we will shape the future of a financially self-sufficient Philippines.


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