Amsterdam, Aug. 30, 2016 – Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, is supplying the Bank of the Philippines Islands (BPI) with EMV prepaid banking and transport cards that support beepTM 1, a contactless ticketing system for Manila Metro. BPI is one of the leading banks in the Philippines, and the first to cater to both EMV and transport payment. The two-in-one card leverages Gemalto’s Optelio technology and gives commuters greater security and convenience while increasing the transaction volume and user base for financial institutions.
Metropolitan Manila is the most populous region of the Philippines where over 12 million1 Filipinos reside and work. Among them, 2 million people commute daily by trains. beepTM was introduced in July 2015 to facilitate transit payment and quicker entrance at train stations’ gantries. It also eliminates the need to repeatedly queue and purchase tickets for commuters. With only 31 percent4 of all Filipino adults holding a bank account, integrating beepTM with banking lets financial institutions tap into a readily available and vast unbanked market.