Security Bank powers SMC Sweep Card

MANILA, Philippines - Security Bank Corp. (SBC) and San Miguel Corp. (SMC) have launched an innovative cashless transaction card called Sweep Card, a contactless and reloadable cash card.

Sweep Card is powered by SBC’s cash card system and linked to the platform of Autosweep Post Corp., a wholly-owned subsidiary of SMC, through the facilities of SBC’s cash management system called DigiBanker.

SBC is looking to enter into more partnerships of this kind in order to build up its transaction banking group’s capabilities, bank officials said.

SBC head of transaction banking Daniel Yu said one of the key drivers of growth for 2014 and beyond is their performance in integrating their system into several consumer-based platforms such as what Autosweep has created.

“As long as there is a need that has been identified and our system can deliver the promise, we will look into how we can participate and create the model that would build a win-win proposition with our partner,” he said.

Sweep Card allows customers to make purchases and reload the card in over 100 retail shops, convenience stores, fast-food chain outlets, gasoline stations and tollways.

Autosweep and SBC share a common commitment to provide technology-based products to a wider consumer market with the ease and convenience of use, plus the security to do cashless transactions. Ultimately, it is a commitment to provide better, faster and more secure cashless payments to the consumers for their day-to-day purchases.

 â€œThis is precisely what Security Bank’s cash card platform and cash management system offers. It is flexible for any industry, hence we don’t build in a closed looped platform but rather we invest in an open loop platform. Hopefully, this will be one of the many applications that our Transaction Banking Group can maximize on,” adds Yu.

Consumers will soon be able to experience the life of convenience as Sweep Card launches on Feb. 28 at Mercato Centrale in Bonifacio Global City, Taguig.