Latest news with #AutomatedFareCollectionSystem
Korea Herald
5 days ago
- Business
- Korea Herald
Ph government, top fintech firm team up to accelerate digital shift of transport sector
MANILA, Philippines, Aug. 13, 2025 /PRNewswire/ -- The Philippine government has partnered with the country's leading e-wallet in line with its agenda to modernize the local transportation sector with world-class payment solutions. The Department of Transportation (DOTr), the country's central bank, Bangko Sentral ng Pilipinas (BSP), the Department of Information and Communications Technology (DICT), and leading local fintech giant GCash have launched world-class cashless solutions in Metro Manila's main rail line, the Metro Rail Transit System Line 3 (MRT-3). This initiative positions the Philippines in the same category as its Southeast Asian neighbors, such as Singapore, which have implemented open-loop ticketing systems, which reduces friction for commuters, allowing them to use various cashless modes of payment. The newly launched Automated Fare Collection System enables faster, easier journeys for MRT-3 passengers via a tap-in and tap-out method through multiple modes of payment: QR, mobile NFC, and debit/credit cards. "This is just the beginning. We're working on this to make all turnstile carousels [equipped] with this option for various payment modes," said Transport Secretary Vince Dizon, adding the digital payment solutions will soon be available in other rail lines — the Light Rail Transit Lines 1 and 2, and other mass transport systems. "One of our core mandates is to make payments safer, secure, efficient, reliable, and more accessible to all. Today, those two goals come together," said Walter Wassmer, member of the central bank's Monetary Board. To help ensure the success of this initiative, DICT Secretary Henry Aguda said they have been working to enhance internet connectivity at MRT-3, allowing commuters to access the GCash app whenever. "We're so proud and excited to finally launch this service in partnership with the government," said Martha Sazon, President & CEO of Mynt, the holding company of GCash. "Before, people would line up as early as 4:30 am just to buy a ticket. I hope that with this project, we can help them make their commute faster and more convenient." About GCash GCash is the Philippines' #1 Finance Super App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. Its mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only $5 billion unicorn in the Philippines. GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
The Print
09-05-2025
- Business
- The Print
Delhi buses to see smart card-based ticketing soon
The project aims to offer seamless travel to commuters while reducing operational inefficiencies associated with paper-based systems, Singh said, adding that it is currently operational in Rajghat, Hasanpur, and Kalkaji depots. The initiative will enable passengers to pay fares using contactless smart cards, mobile payments, QR codes, debit and credit cards, and the National Common Mobility Card (NCMC), Delhi Transport Minister Pankaj Singh told PTI. New Delhi, May 9 (PTI) In a move towards digitising fare collection and reducing paper pass usage, DTC is set to implement a smart card-based ticketing project within a month here, officials said. Delhi Integrated Multi-Modal Transit System (DIMTS), the agency implementing the Automated Fare Collection System (AFCS) will issue these contactless cards, with passengers paying a one-time fee of Rs 50. The actual cost of issuing the card is Rs 71, which the DIMTS will partially bear, an official said, further informing that each pass renewal will cost Rs 14. The board has approved the implementation of 5,700 Electronic Ticketing Machines (ETMs). The devices will be used by conductors to issue tickets via digital payment options, making the process faster, more transparent and user-friendly. The initiative is expected to help the government financially, as the service charges paid to DIMTS on ticketed revenue will be reduced from the current 1 per cent to 0.75 per cent, without any minimum revenue guarantee, a Delhi Transport official told PTI on the condition of anonymity. The Transport Department has also requested DIMTS to take over the cost of implementation and manpower required for the project, he said. Reducing these costs would also lower the price of the ticket. PTI NSM MPL HIG This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
