SHFC Expands Payment Options with addition of Bayad
On August 24, the Social Housing Finance Corporation (SHFC), the lead government agency mandated to undertake socialized housing for low-income families, sealed a partnership with the CIS Bayad Center, Inc. (Bayad), the biggest and widest multi-channel payment platform in the country, for a new digital payment option for its partner-homeowners.
SHFC President Atty. Arnolfo Ricardo Cabling and Bayad President and CEO Lawrence Ferrer signed the memorandum of understanding in a virtual ceremony attended by senior officers from both sides. With the collaboration, over 300,000 partner-homeowners under SHFC’s various housing projects can now conveniently pay their monthly amortization through Bayad’s branches near their residence. In addition, this will help protect the well-being of SHFC account officers, as they do not need to physically visit the communities to collect amortization payments amid the COVID-19 pandemic.