In its continued development as a multi-service fintech institution, outsourced bill payment collection company, Bayad has launched Bayad Asenso. This new business payment solution, embedded within the Bayad App, aims to empower micro, small, and medium enterprises (MSMEs) to become Bayad Agents.
Bayad Asenso allows small businesses such as sari-sari stores, eateries, pet shops, and water refilling stations to function as payment centers.
“We believe in empowering every Filipino entrepreneur as we foster financial inclusion and help build economic resilience in the country,” said Lawrence Ferrer, president and CEO, Bayad.
Bayad Agents can now process bills for major providers like PLDT, Converge, Globe, SkyCable, and many others, including regional utility billers. This expansion helps Bayad maintain its bricks-and-mortar presence while promoting digital transformation to meet the evolving needs of Filipinos.
Becoming a Bayad Agent
- To become an authorized Bayad Agent, applicants need a physical store, a stable internet connection, and an upgraded Bayad App account. The Bayad App is available on Google Play, the App Store, and the Huawei App Gallery.
- After upgrading the account, applicants must tap the “Business” icon, select “Asenso,” and complete the registration process.
- Required documents include a Barangay Business Permit, DTI Business Registration, Mayor’s Permit, BIR Registration, SEC Registration, Amended Business Permit, or RSA License.
Income opportunities
Bayad Asenso agents can earn an average of P5.50 per bill payment transaction and P4 for every P100 worth of load transaction. This offers a sustainable income stream, enhancing the profitability of small businesses. Newly registered Bayad Agents need an initial wallet fund of at least P3,000. They can fund their wallet through digital money transfer platforms or over the counter at Bayad Centers, BDO, EastWest Bank, and RCBC.
For further queries, applicants can email qmgonzales@bayad.com or call 09989652330. Bayad provides end-to-end support services for efficient payment and collection processing.