RCBC, DOTr roll out contactless payments

Rizal Commercial Banking Corp. (RCBC) has partnered with the Department of Transportation and the Light Rail Transit Authority to launch the country’s first rail-based automated fare collection system using open-loop EMV payments on Line 2.

In a statement on Monday, RCBC said the new platform allows commuters to pay fares by tapping Visa or Mastercard debit, credit or prepaid cards, using Near Field Communication-enabled mobile wallets, such as Google Pay or scanning GCash QR, eliminating the need for a dedicated transit card.

Unlike traditional transit cards, the platform is designed to be bank-agnostic, enabling payment instruments issued by participating banks, electronic money issuers and fintech companies.

According to RCBC, the initiative aligns with the government’s digital transformation agenda by introducing globally accepted, secure and interoperable payment technologies to public transportation.

Transportation authorities expect the system to improve fare collection while making commuting faster and more convenient for the more than 58.7 million passengers who ride LRT-2 annually.

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RCBC president and CEO Reggie Cariaso said the initiative reflects the bank’s commitment to helping build a digitally connected Philippines through partnerships with government agencies.

To encourage commuters to try the new payment option, RCBC launched the PISO Fare Cashback Promo from July 13 to July 31. The promotion is available to RCBC debit and credit cardholders, as well as MySSS RCBC DiskarTech debit cardholders, who can receive fare cashback when using the new system.