CHAMPIONING CYBERSECURITY EXCELLENCE: In photo (from left to right): Bayad Chief Information Officer / Security Officer – Rocky D. Bacani, SISA Philippines Country Head Etika Mehta, Bayad President and CEO – Lawrence Y. Ferrer, and Bayad Deputy Chief Information Security Officer – Rolly N. Bañez. With the fast-growing fintech network in the Philippines, Bayad continues to trailblaze as an outsourced bill payment collection service provider, enabling a one-stop-shop payment solution for its consumers.
Formerly known as Bayad Center, the company has rebranded to Bayad, transforming into a digital-first institution that offers a full range of services for consumers and enterprises. From its brick-and-mortar business model, Bayad has expanded its payment ecosystem by connecting a multitude of billers with leading establishments and e-money players in the country.
Today, Bayad is a fintech subsidiary of Meralco, the Philippines' largest electric distribution utility company.
As Bayad enhances its backend and frontend solutions, it also intensifies its cybersecurity measures, where trust and convenience remain at the core of its consumer protection standards.
In line with these efforts, Bayad has successfully obtained its Payment Card Industry Data Security Standard 4.0 (PCIDSS 4.0).
The security standard certification was thoroughly assessed by SISA, a forensics-driven cybersecurity company specializing in risk assessment, security compliance and validation, monitoring and threat hunting, and training for various payment security certifications.
SISA's assessment has proven Bayad's capability to provide reliable fintech solutions. It has effectively deployed multi-factor authentication, a key management system, data at rest encryption, secure wipe solutions, and a web application firewall, which are critical features in passing the said data security standard certification.
Bayad Deputy Chief Information Security Officer Rolly N. Bañez shared, "Bayad's PCI-DSS 4.0 certification attests to our commitment to harnessing technologies that foster security, efficiency, and scalability in digital payments. The robust cybersecurity measures we implement enable us to innovate confidently and co-create projects with various stakeholders centered on our goal of maintaining a frictionless customer experience."
Bayad Chief Information Security Officer Rocky D. Bacani added, "Bayad's PCIDSS 4.0 certification is a critical milestone in our continuous fight against cyber threats. Consequently, cybercrime remains one of the foremost risks confronting businesses and communities. At Bayad, we recognize cybersecurity's role in protecting our consumers and business counterparts."
Bayad President and CEO Lawrence Y. Ferrer also underscored, "Ultimately, efficiency and innovation are the bedrock of Bayad's cybersecurity initiatives. We value how people make payments and help institutions thrive and expand with a robust system enabling reliable, seamless, real-time transactions."
For fintech institutions interested in joining Bayad's extensive bill payment network, you may email partnerships@bayad.com. Bayad enables partners to attain nationwide presence and provides end-to-end support services for efficient and secure payment collection processing.
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