Japanese firm eyeing minority stake in Meralco’s Bayad Center

Densan Company Ltd. of Japan is eyeing a minority stake in Bayad Center Inc., the Manila Electric Company’s (Meralco) outsourced payment subsidiary that has been handling customer payment services.

Meralco President Oscar S. Reyes noted that the Japanese firm is initially eyeing 5.0-percent shareholdings in Bayad Center.

“They (Densan executives) are interested in taking a stake in Bayad Center, initially it is small-ish…what we’re talking is 5.0-percent,” he said.

Reyes noted the Japanese firm has “strong relations with convenience stores – they provide channel and opportunity for payment services.”

The two companies attempt to advance synergy in improving billing services as well as step up on the information technology (IT) platform being used for such.

Meralco itself has been improving on its billing and payment services so it could be more attuned to the changing needs of electricity consumers.

The utility firm is also preparing onward on plans to “digitize” billing system in the restructured power industry – a mechanism that is currently pending for approval by the Energy Regulatory Commission.

On the whole, Meralco sees the entry of Densan as something beneficial to its “payment service operations,” primarily in enhancing the features and systems of its venture on this sphere.

According to Meralco, its Bayad Center handled more than 83 million transactions last year and served more than 200 billers.

The company added that it expanded services “to include the deployment of 245 automated payment machines and 473 retail machines for sari-sari stores, online payment services, spot billing and ambulant tellering within Bayad Center and the biller offices.” (MMV)