The Automated Fare Collection System (AFCS) allows the use of EMV-compliant contactless credit, debit, and prepaid bank cards as cashless payment instruments in public transport modes.
Landbank said it facilitated a total of 39.14 million transactions amounting to P567.61 billion from its major digital banking channels in the first three months of 2022 — translating to a 36% and 22% year-on-year growth in volume of transactions and value, respectively.
Landbank said it is also coordinating with the Department of Education for the list of teachers who were reportedly victimized through phishing, even as the state-owned bank conducts its own investigation into their accounts.
The Land Bank of the Philippines clarified on Monday, Jan. 24, that its systems were not hacked following reports that alleged unauthorized transactions were experienced by two teachers who maintain payroll accounts with the state-owned bank.
Meanwhile, state-run Land Bank of the Philippines said it has onboarded 5.3 million unbanked PhilSys registrants for their own transaction accounts through account opening booths at select PhilSys co-location areas nationwide.
Aside from traffic offenses, Filipinos with jaywalking or anti-littering violations can also pay their violation tickets using the same Bayad channels.
The total loan package from Landbank will also include an additional short-term loan line as well as a facility for its trade transactions amounting to up to P2 billion.
