djmotwister
08-26-2009, 02:18 AM
Philippine banks may soon issue cash cards that can be used to pay for Metro Rail Transit (MRT) fares.
That is if talks between the Rizal Commercial Banking Corp. (RCBC) and BancNet, an electronic banking consortium, push through, an executive said on Monday.
Under the proposed partnership, BancNet members will be allowed to issue cards that can also be used to pay for MRT fares.
In turn, RCBC is expected to earn from settlement fees to be collected from BancNet lenders since it has an exclusive five-year agreement with the MRT’s ticket provider, Omniprime Marketing Inc.
MORE HERE: http://www.gmanews.tv/story/170681/atm-cards-may-soon-be-used-for-train-fares :coffee
That is if talks between the Rizal Commercial Banking Corp. (RCBC) and BancNet, an electronic banking consortium, push through, an executive said on Monday.
Under the proposed partnership, BancNet members will be allowed to issue cards that can also be used to pay for MRT fares.
In turn, RCBC is expected to earn from settlement fees to be collected from BancNet lenders since it has an exclusive five-year agreement with the MRT’s ticket provider, Omniprime Marketing Inc.
MORE HERE: http://www.gmanews.tv/story/170681/atm-cards-may-soon-be-used-for-train-fares :coffee