Oberthur Technologies (OT), a France-based embedded security software products and services provider, has entered into a partnership with AF Payments Inc. (AFPI) to offer multi-purpose smart cards in the Philippines.
The new card will allow unbanked people to have one single card to easily use transportation services and pay fares in Manila.
The new multi-purpose smart cards, provided by OT, allow travellers to connect from one train line to another without the hassle of changing tickets. Additionally, the card will also be accepted in select bus lines and toll ways.
Furthermore, cardholders will soon be able to pay for goods through a stored value account loaded in the smart card.
OT managing director for Asia financial services institutions 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: “AFPI is extending this functionality to banks and other financial institutions to make the “beep” cards accessible to all Filipinos.”