Mastercard Rallies Filipinos to Support the 2019 Southeast Asian Games

MANILA, PHILPPINES – November 21, 2019 – Mastercard today solidified its commitment to ‘Win As One’ at the upcoming 2019 Southeast Asian Games through an event at the Glorietta Activity Center that unveiled the various ways it makes the Games a priceless experience for Filipinos.

Mastercard is committed to creating a priceless SEA Games experience for all Filipinos. Mastercard is powering the official 2019 SEA Games mobile app, which has a payment functionality embedded, and has also released a limited-edition commemorative 2019 SEA Games Mastercard prepaid card through its partner Philippine National Bank. Another initiative to make the games a priceless experience is the Mastercard augmented reality filter on Facebook which allows Filipinos to show support by posting selfies embellished with fun backgrounds, stickers, and music. As the official payment partner of the SEA Games, Mastercard cardholders will also enjoy exclusive 10% discount on ticket purchase with a minimum spend of Php 1,000 at any SM Tickets outlet or online via smtickets.com, and through the 2019 SEA Games mobile app.

To get more Filipinos to participate, Mastercard Philippines Country Manager Rowell Del Fierro, together with distinguished guests, proudly unveiled the Mastercard Jeepney, designed by local artist Lou Pineda-Arada. The jeepney is a well-loved Philippine cultural icon and Mastercard is leveraging it as a symbol of unity - a figurative ride towards the country’s victory. The Mastercard Jeepney also features a volleyball and basketball motion-sensing game, which the University of the Philippines Fighting Maroon’s star player Kobe Paras got to play in front of the crowd.

“In the spirit of supporting the government and ensuring Philippines is a successful host of the 2019 SEA Games, Mastercard has created multiple interactive initiatives encouraging Filipinos to actively participate in the event,” said Rowell Del Fierro, Country Manager of Mastercard Philippines.

With a little over a week left until the opening ceremony, Mastercard and Philippines Southeast Asian Games Organizing Committee (PHISGOC) are asking Filipinos to Start Something Priceless at the 2019 SEA Games.

The Mastercard Jeepney will be stationed at the Glorietta Activity Center until November 29.

About Mastercard

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardAP, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

EFI’s Boundary Hulog pPogram to Help PUJ Modernization Program

Manila, March 20, 2019 –Top jeepney manufacturer Elmer Francisco Industries (“EFI”) and Hong Kong-based firm Madison Holdings Group (“Madison”) look forward to a potential business collaboration that will make brand new jeepneys affordable to transport groups and individuals through a flexible financing program. The financing program will help operators and drivers abide by the government’s Public Utility Vehicle Modernization Program (PUVMP). This is pursuant to Department of Transportation’s (DOTr) Department Order No. 2017-011, the Omnibus Guidelines on the Planning and Identification of Public Road Transportation Services and Franchise Issuance.

Under the PUVMP, jeepneys that are at least 15 years old are deemed road unworthy. The Land Transportation Franchising and Regulatory Board (LTFRB) noted that by 2020, around 180,000 jeepneys should be replaced with safer, more efficient and environment-friendly jeepneys.

However, it is likely to be challenging for the transport groups to be able to afford a new jeepney that costs up to two million pesos each. EFI Founder and Chairman Elmer Francisco said, “The main concern is the investment needed to buy a brand new jeepney.”

After a series of consultations with the transport groups, EFI formulated the flexible financing program called the Boundary Hulog. Francisco explained, “This is why EFI’s Boundary Hulog program is designed to match the paying capability of the operators/drivers. They can choose to complete the payment in eight, nine, or even 15 years. What’s important is their income is not affected by the purchase of the jeepney as they follow the law.”

Madison believes there will be significant upfront and recurring demand for electric-powered jeepneys which are compliant with the program. Under the cooperation agreement with EFI, Madison will exclusively supply these electric-powered jeepneys to EFI, as well as provide financial and blockchain services, including a cryptocurrency fare payment system. 

The transport sector expressed interest in this potential business collaboration. This includes transport groups Alliance of Concerned Transport Operators (ACTO), Alliance of Transport Operators and Drivers Association of the Philippines (ALTODAP), Federation of Jeepney Operators and Drivers Associations of the Philippines (FEJODAP), Juan TSC, Luzviminda Transport Federation, Nobablum Transport, Western Bicutan TSC, Tubojoda, and Twelve Star TSC.

EFI last year launched its Francisco Passenger Jeepney (FPJ) in response to the jeepney modernization program. These were designed to be environment-friendly and to operate for the safety and convenience of the riding public.

FPJs come in Euro IV-compliant diesel-powered variant, and electric-powered jeepneys (e-jeep). Other features include automated fare collection, CCTV cameras, free wifi, speed limiters, and air conditioner for some units. FPJs also have a capacity of passenger capacity of 34, which is almost twice more than the standard jeepneys with 20-passenger capacity.

About Madison Holdings Group

Madison Holdings Group Ltd. (“Madison”) is a fintech services company  headquartered in Hong Kong with businesses across the globe and is the only full-suite blockchain financial services company listed on the Hong Kong Stock Exchange (Ticker: 8057 HK). Madison delivers a comprehensive financial services platform providing both traditional and blockchain financial services, ranging from securities brokerage, investment advisory, asset management, cryptocurrency exchange platform licensed in Japan to high performance computing and cryptocurrency mining facilities in Sweden. The team comprises an executive team of financial industry veterans from global investment banks, and a comprehensive software team from blue chip institutions.

About Elmer Francisco Industries

Elmer Francisco Industries (EFI) is an established local assembler, distributor and manufacturer widely known in the Philippine automotive industry. The company started as small shop that specialized in painting jeepneys in 1947 before they became a reputable jeepney body builder and was called Francisco Body Builder (FBB) four years later. Since it was incorporated in 1960 as Francisco Motor Corporation, it intends to serve the Filipino market through continuous innovations of their product and services. Now, Elmer Francisco Industries undertakes the mass production of the modernized version of the Philippine work-horse dubbed as the King of the Road, the Jeepney.