Bank of the Philippines Islands (BPI) has inked an agreement with Gemalto to offer a prepaid card, which can be used for both banking and transport.
Equipped with EMV technology, the two-in-one card will support beep, a contactless ticketing system for Manila Metro.
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Backed by Gemalto's Optelio technology, the new card provides better security and convenience while increasing the transaction volume and user base for financial institutions.
Launched in July 2015, Beep facilitates transit payment and quicker entrance at train stations' gantries. It also eliminates the need to frequently queue and purchase tickets for commuters.
Bank of the Philippines Islands head of financial products and services Simon Paterno said: “At BPI, we want to be able to address the changing needs of our clients.
“By fusing banking and transport together, shoppers can enjoy cashless payments for their purchases at Ayala Malls, plus the benefits of beep, which will soon be extended to other bus services. Gemalto's timely delivery and expertise ensured that this project can be rolled out smoothly and on schedule."
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