GSIS names Bayad Center as payment solutions partner for loan settlements

Bayad Center, the country’s biggest and widest multi-channel payment platform, has been named as the official payment solutions partner of the Government Service Insurance System (GSIS) for loan settlement. 

Mr. Lawrence Ferrer, CEO and President of Bayad Center (left) and GSIS President and General Manager Rolando Ledesma Macasaet (right)

In a virtual partnership signing, the two financial institutions expressed their mutual aim to make GSIS loan repayment more accessible, convenient, and secure for all members and pensioners especially those in the provinces. 

“Enabling simple and hassle-free over-the-counter financial transactions for borrowers is one way of helping them meet monthly obligations. It is our hope that they will be able to reap the full benefits of their loans, and at the same time efficiently manage and repay them on time. Ultimately, we want Bayad Center to be readily available for every Filipino’s financial needs, providing meaningful payment and financial services wherever they may be,” Bayad Center President and CEO, Lawrence Ferrer explained. 

By the first quarter of 2021, all Bayad Center Branches and Authorized Partners will be able to process all types of GSIS loans such as the Enhanced Salary Loan (ESL), Emergency Loan Assistance (ELA), Summer One Month Salary Loan (SOS), Emergency Loan (EML), and GSIS Financial Assistance Loans (GFAL), to name a few. This feature will also be available through Bayad Center’s digital partners soon. 

According to GSIS President and General Manager, Rolando Macasaet, “We understand that times have been difficult as we grapple with the on-going pandemic, economic challenges, and natural calamities. We partnered with Bayad Center because we both believe that the provision of affordable financing must go hand in hand with a convenient payment system to be able to truly provide support and assistance.”
Mr. Macasaet also assured GSIS members that their personal data will be safe and secure with Bayad Center’s Tatak-Sigurado guarantee. 

Bayad Center has over 40,000 payment touchpoints across the nation, so borrowers don’t need to travel far or miss a day at work to visit GSIS offices. On top of loan settlements, a wide range of over-the-counter financial transactions can be done at Bayad Center such as bills payment, ATM cash withdrawal, medical reimbursement, airline ticketing, claiming remittance, and more.  

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