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LANDBANK bolstered its position as a vital facilitator of hassle-free and cashless travel with the successful pilot rollout of the Department of Transportation’s (DOTr) Automated Fare Collection System (AFCS) for MRT-3 on July 25.
With the AFCS, MRT-3 patrons can now enjoy a smooth commuting experience by merely tapping their debit, credit, or prepaid Europay, Mastercard, and Visa (EMV) cards at enhanced turnstiles. This provides a quicker and more user-friendly option compared to single-journey tickets and stored-value cards, signifying a transition towards secure, uninterrupted, and real-time transport payments.
The ceremonial signing of the Memorandum of Agreement (MOA) and live demonstration were spearheaded by Transportation Secretary Vince B. Dizon, Bangko Sentral ng Pilipinas (BSP) Monetary Board Member Walter C. Wassmer and Deputy Governor Mamerto E. Tangonan, Department of Information and Communications Technology (DICT) Secretary Henry Rhoel R. Aguda, Mynt President and CEO Martha Sazon, Globe Exchange, Inc. (GXI) President and CEO Ren-ren Reyes, LANDBANK President and CEO Lynette V. Ortiz, VISA Country Manager Jeffrey Navarro, RCBC President and CEO Reginald Cariaso, and RCBC Chief Innovation and Inclusion Officer EVP Lito Villanueva, along with other essential stakeholders.
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“We are delighted to facilitate intelligent, secure, and contactless payments for everyday commuters and to back the government’s initiative for digital transport reform. At LANDBANK, we are perpetually prepared to collaborate with both public and private entities to expand interoperable payment solutions that enhance daily lives,” stated LANDBANK President and CEO Ortiz.
In the framework of the collaborative project, GCash operator GXI implemented and manages the POS terminals and transit system at MRT-3 turnstiles, overseeing fare calculations, reporting, and commuter assistance to ensure efficient card-based transactions.
Meanwhile, LANDBANK acts as the exclusive acquiring bank and transit payment gateway integrator, assuring that payments made using EMV cards are authorized, processed, and settled directly into DOTr’s account.
LANDBANK’s Transit Payment Solution facilitates fare payments across various transport modes through a cohesive system of validators, a centralized payment gateway, and settlement services. It operates for EMV and other designated cards, and can connect with other transit providers through secure digital connections to promote a genuinely interoperable nationwide transit experience.
The AFCS is part of the National Government’s broader scheme to digitize public services, in accordance with Executive Order No. 170 and the BSP’s Digital Payments Transformation Roadmap.
With this endeavor, LANDBANK is poised to assist in creating a fully modernized and inclusive public transport ecosystem, fueled by financial technology and robust inter-agency and public sector collaboration.
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