New high for Dagang NeXchange Bhd
KUALA LUMPUR: GHL Systems Bhd
is partnering with AF Payments Inc (AFPI) to offer the beep payment acceptance services in the Philippines.
In a filing with Bursa Malaysia on Tuesday, the payment service provider said its wholly owned subsidiary, GHL Systems Philippines Inc, had inked an agreement to provide transaction payment acquisition services to AFPI, the owner of beep.
This will enable GHL to acquire in-store retail and services merchants for AFPI.
beep, to be rolled out starting this month, is a stored value e-payment service that allows consumers to make payments using a contactless smartcard or any other form factor containing the beep application (the beep card) at transport establishments and other accredited retailers, merchants, and establishments where the beep card is accepted as means of payment.
The Department of Transportation and Communications of the Philippines has awarded AFPI the contract to develop an automatic fare collection/ticketing system for Light Rail Transit 1, Light Rail Transit 2, and Metro Rail Transit 3.
The scope may be expanded to include other transit and non-transit participants into a generic closed-loop micropayment solution fulfilling other commercial functions.
beep has issued more than 3 million cards since its launch in 2015. Its acceptance is currently focused on transit, and with this relationship, AFPI plans to expand its acceptance to the retail space as well.
“Our goal is to make beep an ubiquitous payment system in the market. The achievement of this goal will depend strongly on how fast we can expand our acceptance universe,” said AFPI president and chief executive officer (CEO) Peter Maher.
“This partnership with GHL will enable us to increase beep’s acceptance to more retailers, thus giving our cardholders more opportunities to enjoy the benefits of electronic payment.”
GHL’s group CEO Danny Leong said: “We are very excited with this relationship as we believe we have the acquiring knowledge for scheme as well as non-schemed payment instruments in the region to ensure a very successful venture with AFPI.”
* See also "GHL Systems shareholders told to reject Actis' takeover offer"
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