AF Payments Inc. (AFPI) is a consortium between the Ayala Group and the First Pacific Group. The AF Consortium brings together the strong track record and experience of both groups in banking, development of payment platforms, management of utilities, retail, telecommunication, and operations.
AFPI is a provider of a contactless electronic payment system that includes but may not be limited to a contactless smart card. The payment system can be used to make payments on public transport, specifically the rail system, and is planned to be available in a wide range of retailers and facilities. The name of the application is beep™.
beep™ is a product that holds stored value functionality, owned and governed by AF Payments Inc., which resides on the beep™ application. The beep™ Purse Product stores monetary value for use by holders as means of payment for fare in Authorized Transport Establishments or any other Authorized Establishments for qualified goods and services. beep™ allows cardholders to make contactless payments without having to hand over the medium to cashiers, or without the need to dip or swipe it. In order to make the payment, the cardholder should simply tap beep™ on the beep™ accepted contactless reader.