CIS Bayad Center, Inc., the country’s biggest and widest multi-channel payment platform, welcomes the Food and Drug Administration (FDA)as part of itsgrowing biller network, fast-tracking the application and renewal of license-to-operate permits, as well as product registration for small and medium enterprises (SMEs).
With the new partnership, SME owners can now pay their application fee and accomplish their license-to-operate application and product registration in over 40,000 Bayad Center touchpoints nationwide. With SMEs comprising 99% of all registered businesses in the country, this payment solution from Bayad Center and FDA provides greater accessibility, convenience, and security for thousands of Filipino entrepreneurs. The collaborative effort is likewise a response as the country grapples with the coronavirus quarantine restrictions, actively discouraging people to travel far and minimize human contact.
The recently held virtual signing ceremony was led by Bayad Center President and CEO Lawrence Y. Ferrer, COO and Senior Vice President Francispito P. Quevedo, together with several officials from the FDA headed by Dr. Rolando Enrique D. Domingo, the agency’s Director General, and Atty. Ronaldo R. De Veyra, MBA CESO II, Deputy Director General for Internal Management.
“As the vanguards of health mandated by the government to ensure the safety of food products, pharmaceutical, cosmetics, household urban hazardous substances (HUHS), household urban pesticides (HUP), toys and child care articles (TCCA), and medical devices in the market, we are very happy to partner with Bayad Center and offer a new venue for our clients to complete their application and post their payments,” Domingo shared. “We are certain that this effort will streamline the current process and will translate to better services to the public and better availability of FDA-approved health products,” he added.
Currently, there are approximately half a billion items registered and 80,000 establishments with licenses to operate in the FDA. The agency said the numbers of new registrations and renewals are likely to continue increasing with payment transactions made easier and even during the pandemic.
“Bayad Center believes that this partnership underscores our longstanding commitment to bring efficient and reliable payment financial solutions, not only for household and personal bills, but now for business applications and licenses that will help empower Filipino entrepreneurs operate more efficiently especially in this new environment we are adapting to. By providing additional payment channels for FDA, individuals who aim to start or grow their businesses can save time and energy since payments are now more accessible and convenient through our Bayad Centers and Authorized Partners.” said Ferrer.
Bayad Center continues to grow its portfolio of services, which now goes beyond payments, including domestic and international remittance, insurance sales, medical reimbursement, airline ticketing, ATM cash withdrawal, loan disbursement, airtime loading, and more.