AF Payments Inc., the provider of Beep cards, and Mastercard on Thursday launched the country’s first open-loop, tap payment system for bus rides around Bonifacio Global City (BGC) in Taguig.

Mastercard prepaid, credit and debit cardholders can now simply tap their cards on validator devices in BGC buses to pay for their ride faster.

“With the open-loop system, a commuter doesn’t have to be a Beep cardholder so it’s more inclusive and more convenient,” AF Payments Inc. president and chief executive officer Jonathan Juan Moreno said.

“Mastercard looks forward to working with Beep to bring greater convenience to local residents by introducing new payment options, which in turn will help reduce queues and contribute to an overall more rewarding transit experience,” Mastercard manager for the Philippines Simon Calasanz said.

Option for tourists

Aside from the locals, Moreno said the partnership with Mastercard eases payments for tourists.

“This is helpful for a tourist who comes here and he or she only has a credit card. It’s really providing people with options,” he said.

The company executives said around 14 million residents of Metro Manila alone can benefit from the open-loop system with Mastercard.

Many of them, Moreno said, are regular commuters who generally prefer cards.

“In Hong Kong, 95 percent of regular commuters use the Octopus card. That is the same case in Australia. In BGC buses, I believe there are 30,000 to 40,000 passengers a day,” he said.

After Taguig as the pilot area for the Mastercard and AF Payments partnership, the firms will open up their tap payment system for passengers of EDSA buses and the Metro Rail Transit Line 3.

“As an emerging and dynamic hub for global companies and innovative startups, BGC is the ideal location to kick off this rollout, which will not only improve transit options for local commuters, but also raise the efficiency and accessibility of public transport operations in line with global standards,” Moreno said.