The Daily Tribune
BSP backs tap-to-pay rollout at Metro Rail
The Bangko Sentral ng Pilipinas (BSP) supports the Department of Transportation's (DOTr) new tap-to-pay and QR code fare system at the MRT-3, viewing it as a significant step towards a digital economy.
This new payment system, launched in partnership with GCash, allows commuters to use debit/credit cards or scan QR codes from e-wallets for instant fare payment, replacing traditional stored-value cards and single-use tickets.
The initiative is part of the DOTr's Automated Fare Collection System (AFCS) project and aligns with the BSP's National Retail Payment System (NRPS) framework for a modernized payment ecosystem.
BSP Governor Eli Remolona, Jr. highlighted that this development aids the BSP's goal of promoting a cash-lite economy where digital payments are readily used for daily transactions.
The central bank has been actively encouraging the transport and payment sectors to adopt interoperable digital solutions and has been working with stakeholders since 2023 to increase the use of electronic payments in public transportation.
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