Bayad, formerly known as Bayad Center, continues to trailblaze payments as it extensively evolves from an over-the-counter payment center to what is now the largest multi-channel payment platform in the Philippines to date.
With over 10 million payment transactions passing through its system monthly, security of data remains at the forefront of Bayad’s core initiatives. This stance allows businesses and end-customers to confidently accomplish their financial and commercial requirements through Bayad’s multitude of channels.
Advancing this position is Bayad’s investment in a cybersecurity solution with Aqua Security (Aqua), one of the largest pure-play cloud native security providers in the industry.
As Bayad continues to adapt Aqua’s cloud native solution using container and serverless technologies, it equips an agile, scalable and resilient digital environment which allows Bayad developers to focus on writing code while eliminating roadblocks to secure deployment.
Bayad Cyber Security Department headed by Chief Information Security Officer and Meralco Group CISO, Ms. Mel Migriño together with Mr. Reynaldo M. Supan – Head of Security Engineering, Ms. Justine Clarence R. Co – Deputy Chief Information Security Officer.
Bayad Chief Information Security Officer, Mel Migriño shared “Operating in a highly regulated fintech industry, our infrastructure upgrade thru Aqua enables us to ensure that our stakeholders have visibility into the risk posture and compliance status of our development artifacts, running applications, and cloud environments. With Aqua, we are able to detect and resolve information leakage across the application and cloud ecosystem, establish unified security standards and control points across our web application (Bayad Online), mobile application (Bayad App), and APIs.”
With cloud adaptation, Bayad is able to thoroughly evaluate market research in response to various vulnerabilities. Aside from this, it has supported its compliance requirements of the Banko Sentral ng Pilipinas (Central Bank) and the Payment Card Industry Data Security Standard (PCI-DSS) certification. To top it off, Bayad gains recognition during W.Media’s Asia Pacific Cloud & Data Center Awards for its Outstanding IT and Cloud Project under the Cybersecurity Implementation award category.
Bayad President and CEO, Lawrence Y. Ferrer added, “Going serverless enables us to run our new Bayad applications smoothly paving the way to an improved payment experience for Filipinos as they continue to navigate their way in the new normal. With Aqua, Bayad is able to accelerate its digital thrusts and develop initiatives anchored on its mission of bringing financial services closer to Filipinos.
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