BSP backs tap-to-pay rollout at MRT-3, eyes boost to digital economy

The Bangko Sentral ng Pilipinas (BSP) has expressed strong support for the Department of Transportation’s (DOTr) launch of tap-to-pay and QR code-based fare payments at Metro Rail Transit Line 3 (MRT-3), describing it as a milestone in the country’s push for a more digital and inclusive economy.

Implemented on 25 July 2025 in partnership with G-Xchange Inc. (GCash), the new payment feature enables commuters to pay fares instantly by tapping their debit or credit cards or scanning a QR code from their e-wallets, eliminating the need for stored-value cards or single-use tickets.

The move forms part of the DOTr’s Automated Fare Collection System (AFCS) project and aligns with the BSP’s broader strategy to modernize the payment ecosystem under the National Retail Payment System (NRPS) framework.

BSP Governor Eli Remolona, Jr., in a message delivered by Monetary Board Member Walter Wassmer, said, “The central bank welcomes the development of the new fare collection system. This supports our broader push for a cash-lite economy, where Filipinos can confidently use digital payments for everyday transactions.”

The BSP has long urged the transport and payments sectors to resolve system integration issues and adopt interoperable, competition-friendly digital solutions. Since 2023, the central bank has been working with stakeholders to expand the use of secure and efficient electronic payment methods in public transport.

Deputy Governor Mamerto Tangonan said the BSP will continue to engage with the DOTr and payment service providers it supervises to ensure the systems remain reliable and secure.

The AFCS initiative supports the Philippine Development Plan’s objective to digitize 60 to 70 percent of all retail payments by 2028 – a target seen as crucial for improving efficiency, reducing reliance on cash, and expanding access to financial services.

DOTr is eyeing a broader rollout of digital payment options across other railways and mass transit systems in the coming years.