Bank of the Philippines Islands (BPI) has teamed up with Gemalto to provide its customers with an integrated EMV prepaid banking and transport cards that support beep.
The beep card is a tap-and-go payment system used in major railways (LRT 1, LRT 2, and MRT 3) and select bus lines in the Philippines.
Under this collaboration, Gemalto will leverage its Optelio technology to power the two-in-one cards. According to Gemalto, the Optelio technology includes an advanced payment cards which enable financial institutions to add applications to their cards, besides payment.
"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," said Simon Paterno, Head of Financial Products and Services at BPI, in a press release.
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