The Manila Electric Co. (Meralco) is in talks with Densan System Co. Ltd. for a minority stake in CIS Bayad Center, Meralco’s over-the-counter bills collection-payment center.
“So we’ve been talking with Densan, they’re very interested to take a stake in Bayad Center,” Meralco president Oscar Reyes said.
Densan is a Japanese integrated payment solution provider, and is in talks with the distribution utility to expand Bayad Center’s operations.
Reyes said they are discussing a possible five percent investment by Densan in CIS Bayad Center Inc., which operates the Bayad Center’s chain.
Bayad Center currently offers collection services for industries like arts and entertainment, real estate, healthcare, transportation, telecommunications, TV, internet and utilities.
Meralco previously said Densan can provide knowledge to widen the Bayad Center to mobile payments.
“Eventually, because of technology, digital platforms will be the way to go—mobile phones, internet. If you have the technology, for us it will be helpful on the development of Bayad Center,” Meralco SVP Alfredo Panlilio said.