The Banks want to provide contactless payment in public transport.
Land Bank of the Philippines (Landbank), along with the Department of Transportation and the Bangko Sentral ng Pilipinas, kicked off the pilot test on the usage of EMV-compliant cards for cashless payments in public transport. The “Automated Fare Collection System (AFCS) EMV Contactless Pilot Production Testing”, was kicked off in an event at the Parañaque Integrated Terminal Exchange (PITX) where the DOTr, Landbank, and the Bangko Sentral ng Pilipinas inked an agreement. Under the agreement, a test run will be conducted to test the use of the system to help the DOTr advance national standards for a cashless AFCS that can be used in all methods of transportation.
Landbank, alongside BSP and DOTr, inked a deal to test launch EMV-enabled payment systems in public transports.