CIS Bayad Center
From a single-company collection agent, this payment facility has become one of the most viable franchise opportunities there is today
Oct 15, 2010 10:00 am
Before supermarkets and departments caught on with the idea, Bayad Center has been offering consumers a one-stop payment center for their utility bills. With Bayad Center, customers are able to pay all – well, almost all – their bills in one place, saving them time, effort, and “commute” money.
Bayad Center is a wholly owned subsidiary of the Manila Elecrtic Co. (Meralco), a publicly listed company led by Philippine Long Distance Telephone Co. (PLDT), San Miguel Corp. and the Lopez group. [Read about the new products of Bayad Center here]
Starting operations in May 1997, Bayad Center was originally a payment collection system developed by its parent firm, Corporate Information Solutions for its principal client, Meralco.
In 2006, Bayad Center was spun off from CIS to become the CIS Bayad Center Inc., and started to accept payments for other Lopez-controlled companies such as Sky Cable, Sky Internet, Bayantel, and Maynilad – then a Lopez firm – and other “biller companies” belonging to various industries. [Read about franchising shows here]
Its one stop shop concept provides the public a “worry-free” collection service for their regular payments for utilities, phone bills, insurance payments, cable TV service, credit cards, and a host of other monthly payments.
“To date, we collect payments for over P160 biller companies and the list keeps on growing,” says Aida Yuvienco, Bayad Center’s vice president and head for sales, marketing and business development.
In increasing its customer base to reach different parts of the country, Bayad Center has created partnerships with a number of banks and other consumer service chains. It also has existing business ties with rural banks, selected branches of Ministop, RCPI, Mail and More, eBusiness Services and as well as a number of malls and supermarkets. [See 10 ways to improve customer service here]
In 2007, Bayad Center opened up the business to would-be franchisees. Now, independent franchisee-entrepreneurs account for a third of its over 1,000 branches. [Read how re-branding helped this franchising brand grow here]
“Investing in a Bayad Center franchise is an opportunity worth embarking on. First, brand recognition is top of mind and the confidence of the public on our capability and service is high,” says Yuvienco.
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