AF Payments

About AF Payments

AF Payments Inc. is the product of a partnership between two of the country’s biggest conglomerates, the Ayala Group and First Pacific Group. Both conglomerates created a consortium known as the AF Consortium to participate in the bid for the Automated Fare Collection System (AFCS) project released by the Public-Private Partnership Center (PPP) of the Republic of the Philippines to be overseen by the Department of Transportation and Communications (DOTC). The AF Consortium brings together companies that have strong track records and experience in operating banking and payments, utilities, retail, telecommunications, and toll road businesses, focused on developing commuting efficiency and improving customer experience. The AF Consortium is composed of the following member companies: * BPI Card Finance Corporation, Globe Telecom, and AC Infrastructure Holdings for the Ayala group * Metro Pacific Investments, Smart Communications, Inc., and Meralco Financial Services Corp. for the First Pacific group beep™ is a product that holds stored value functionality, owned and governed by AF Payments Inc., which resides on the beep™ application. The beep™ Purse Product stores monetary value for use by holders as means of payment for fare in Authorized Transport Establishments or any other Authorized Establishments for qualified goods and services. beep™ allows cardholders to make contactless payments without having to hand over the medium to cashiers, or without the need to dip or swipe it. In order to make the payment, the cardholder should simply tap beep™ on the beep™ accepted contactless reader.

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Legal Form: Inc

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