Bayad Achieves PCI DSS 4.0 Certification, Elevating Payment Security Standards in the Philippines

June 26, 2024 – Bayad, the pioneer brand in the outsourced bills payment collection services in the Philippines, is proud to announce its recent achievement of the PCI DSS 4.0 certification, a significant milestone in payment security. Awarded by SISA, a global forensics-driven cybersecurity solutions provider for digital payments and a leading Qualified Security Assessor (QSA), this certification underscores Bayad’s steadfast commitment to safeguarding customer data and enhancing the security of its payment solutions, both in-branch and online.

This certification comes at a crucial time as digital transactions become more prevalent, and the threat of cybercrime increases. By achieving this standard, Bayad reinforces its dedication to maintaining the highest levels of security and reliability.

Bayad Deputy Chief Information Security Officer Rolly N. Bañez shared, “Bayad’s PCIDSS 4.0 certification attests our commitment in harnessing technologies that will foster security, efficiency, and scalability in digital payments. The robust cybersecurity measures we implement enables us to confidently innovate and co-create projects with various stakeholders centered on our goal of maintaining a frictionless customer experience.”

Bayad Chief Information Security Officer Rocky D. Bacani added “Bayad’s PCIDSS 4.0 certification is a critical milestone in our continuous fight against cyber threats. Consequently, cybercrime remains one of the foremost risks confronting businesses and communities. At Bayad, we recognize the role that cybersecurity plays in protecting our consumers and our business counterparts.”

Bayad President and CEO Lawrence Y. Ferrer also underscored “Ultimately, efficiency, and innovation are the bedrock of Bayad’s cybersecurity initiatives. We value the way people do payments and also help institutions to thrive and expand, with a robust system that enables reliable, seamless and real-time transactions.”

The rigorous assessment by SISA involved a comprehensive evaluation of Bayad’s payment processing systems, confirming their compliance with the stringent PCI DSS 4.0 standards and identifying and mitigating potential vulnerabilities.

Dharshan Shanthamurthy, CEO and Founder of SISA, also commented on the milestone: “We congratulate Bayad on this significant achievement. Our rigorous evaluation underscores their commitment to strong security controls and the integrity of their payment systems. We are proud to support Bayad in their ongoing efforts to create a secure payment ecosystem for their customers.”

With the PCI DSS 4.0 certification, Bayad not only affirms its role as a leader in the payment services industry but also sets new benchmarks for security and reliability in payment processing, ensuring the continued safety and trust of its clients.

About Bayad

Bayad is the pioneer brand in the outsourced bills payment collection service in the Philippines, aggregating a multitude of billers into a robust system that is now being used by leading establishments and electronic money institutions across the country. Formerly known as Bayad Center, it continues to trailblaze the industry as a fintech subsidiary of Meralco – the largest electric distribution company in the country, offering a whole suite of financial products & services available to both consumers and businesses.

About SISA

SISA is a global forensics-driven cybersecurity solutions company for digital payments, trusted by leading organizations for securing their businesses with robust preventive, detective, and corrective cybersecurity solutions. Our problem-first, human-centric approach helps businesses strengthen their cybersecurity posture.  We apply the power of forensic intelligence and advanced technology to offer true security to 2,000+ customers in 40+ countries.

For media queries or more information, visit www.sisainfosec.com or write to Venu Nambiar at venu.nambiar@sisainfosec.com.