Lawrence Y. Ferrer, Bayad President and CEO, has been recognized as one of the Top Filipino Innovators in the recently concluded 2024 Mansmith Innovation Awards.
Organized by Mansmith and Fielders Inc., a leading marketing consultancy company in the Philippines, the said awarding event aims to highlight exceptional Filipino innovators who significantly empowered industry breakthroughs such as digital transformation, business model innovation, and market-driving strategies.
The Mansmith Innovation Awards featured two distinct categories: Master Innovator and Enterprise Innovator. Master Innovators are industry leaders that have attained profitable scale, category leadership and sustainable impact, while Enterprise Innovators are rising stars who have shown potential for growth and capacity for profitable success.
In line with this, Ferrer has been recognized among Master Innovators, highlighting his impact in steering the digital transformation of Bayad, the pioneer brand in the outsourced bills payment collection service in the Philippines.
Formerly known as Bayad Center, the company now stands as a fintech enterprise, integrating biller networks and payment channel providers. With this, Bayad enables a one-stop-shop customer experience, while facilitating seamless real-time transactions for electric and water utilities, cable and internet, loan payments, credit cards, school tuition fees, online shopping, insurance, or government fees. This innovation has continued to cater to Filipinos from all walks of life especially to the “now generation” who are constantly looking for instantaneous ways to settle their payments.
“Bayad is one with both private and government institutions in structuring financial services that will enable business interconnectivity and foster economic resiliency of our country.” shared Ferrer.
“Pivot or perish.” added Ferrer as he urges the digitalization of payments in the Philippines.