China Bank pioneers beep card reloading via ATM
China Banking Corp. has partnered with AF Payments Inc. to become the first bank to offer beep™ card reloading via its automated teller machines (ATM) network.
Under the partnership, the tap-and-go payment card could be reloaded ini- tially in 100 select China Bank and China Bank Savings ATMs strategically located near LRT and MRT stations and P2P bus terminals.
ATMs with beep loading capability are marked with a beep™ sticker and has a beep™ card reader housed inside it.
China Bank cardholders can reload from a minimum of P100 up to P10,000, in multiples of P100. The load amount is debited from their China Bank account and instantly stored in their beep™ cards.
Each reload, regardless of amount, carries a minimal fee of P10, which is waived on the fifth transaction within the same month.
Carol Chua, vice president for alternative channels of China Bank, said the service would help clients by giving them the convenience of topping up via the bank’s ATM networks instead of queuing up in loading stations before they queue up again to get on trains and buses.
“We have always been conscious of harnessing available technology, particularly in the self-service space, to better serve our clients. Co-creating with like-minded technology partners to deliver efficient and reliable value added service such as this, not only differentiates us in the market; it is consistent with our value of being the right partner for our customers,” she said.
While the reloading service is initially offered to China Bank cardholders, Chua added the bank plans to open the service to the general public in the future.
AF Payments president and CEO Peter Maher said the landmark partnership with China Bank would allow the company to better serve the growing network of beep™ card users.
“This tie-up enables us to use the bank’s ATM facility to expand our multi-channel reloading platform. Having a reloading facility that’s instant, widely available, and easy to use supports our expansion efforts,” Maher said.
There are more than five million beep™ cards in the market. The tap-and-go cards are used to pay for fare at elevated trains and select transportation, toll roads, as well as for purchases at select retail outlets.