Beep card operator attributes limited stored value card usage to budget constraints, perceived lack of need to own one

Beep card operator AF Payments Inc. (AFPI) said that the limited adoption of stored value cards (SVC) may largely be attributed to two major factors: budget constraints and a perceived lack of need for a stored value card.

The company gave such a conclusion following its announcement that it is currently prioritizing programs focused on providing special benefits to Beep cardholders.

In a statement, AFPI cited that more than 50 percent of commuters who take the LRT1, LRT2, and MRT3 use Beep cards. Currently, the price of the aforementioned SVC starts at P130.

With that, the company disclosed that it is targeting to amplify its tech-enabled offline services that will further complement online offerings.

“Commuting is never easy, but it is a reality that many people need to confront every day. While we have ongoing efforts at consumer education to shift mindsets towards owning our stored value card, our immediate priority is to ensure that commuters — many of whom are daily wage earners — can enjoy the benefits without sacrificing their hard-earned money for their families. We’re also working closely with our partner transport operators so we can implement their programs on discounted fares exclusive to Beep cardholders,” AFPI President and Chief Executive Officer Jonathan Juan Moreno said.

AFPI shared it has been periodically providing free, limited-edition cards that are specially-designed in partnership with brands and advertisers. “Commuters looking to save on card fees must constantly watch out for such releases, which are often distributed in high foot traffic areas and owned sites of the featured brand,” the firm shared.

Meanwhile, Beep cardholders enjoy discounted fares at LRT1 and LRT2 to encourage passengers to use SVC. 

Recently, the company relaunched the Beep Rewards program, wherein a point is earned for every P200 spent. The accumulated points can be exchanged for P10 load.

Further, senior citizens and persons with disability can apply for a concessionary card that will give them a 20-percent fare discount. Students may also register for Student Discount Cards, or schools can proactively partner with the company to integrate Beep functionality into ID cards.

Moreover, AFPI is also eyeing to introduce more promos in the existing rewards system, expand its merchant-partner lineup, develop new online offerings as well as planning activations to engage passengers.

Relatedly, AFPI shared that a partner will soon join that will increase Beep card acceptance and reloading touch points by 50,000 nationwide.

“Building a wide ecosystem of acceptance and loading points allows us to offer Filipinos a more compelling reason to finally own a Beep card or have a Beep app. By enabling its use ‘anytime, anywhere,’ we not only help support the government’s thrust for more digital transactions, but also make the lives of commuters a little more convenient,” Moreno said.

Photos from AF Payments Inc.

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