There are a lot of unbanked people in The Philippines. In order to allow them to easily use transportation in Manila and in the same way be able to pay, AFPI decided to offer them a single card.
To do so, OT provides the multi-purpose smart cards enabling commuters to connect from one train line to another without the hassle of changing tickets. The card can also be used in select bus lines and toll ways. In addition to transportation, cardholders will soon be able to pay for goods via a stored value account loaded in the smart card.
OT Asia financial services institutions managing director Mark Garvie said: “We are privileged to be the certified partner of AFPI and to support them in offering a multi-purpose card to Filipinos that will enable to have one single card to transit and pay for goods.
“This will also help in the development of urban transport in Manila. OT has demonstrated its expertise in transportation and payment markets worldwide, so we were able to meet stringent technical requirements from AFPI.”
AFPI president and CEO Peter Maher said: “OT has a strong local presence and excellent reputation in the Philippines so they are an ideal partner to provide a smart card which enables end-users to commute easily and pay securely.
“We have our hearts set on offering payment means to the unbanked segment and offering a payment service via a stored value smart card is the best solution. AFPI is extending this functionality to banks and other financial institutions to make the “beep” cards accessible to all Filipinos.”
