China Bank provides cashless cab fare payments

You can now pay your taxi fare using your ATM or debit card in Davao,Philippines.

China Bank, BancNet, and Mabuhay Taxi, one of the biggest and oldest taxi fleet operators in Davao, have teamed up to pioneer cashless payments in the city’s transport system.

Thru BancNet, other ATM cards issued by Megalink banks will also be accepted.

The over 200 units of Mabuhay Taxi will be equipped with wireless POS terminals by BancNet. For the initial roll-out

of the program, 20 units of Mabuhay Taxi were installed with wireless point-of-sale terminals.

The deal, the first of its kind in the country, is a pioneering project to promote card-based transactions which is already popular in the rest of the world. China Bank Davao-Lanang Branch facilitated the deployment of state-of-the art wireless POS terminals of Mabuhay Taxi, one of its long-time valued clients, aided by the Bank’s Cash Management Services Division.

“This is a most welcome development. I hope that more businesses will be inclined to adopt this technology as a payment channel for their goods and services,” said BancNet Executive Vice President and COO Aris Zafra.

For more.

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