FILIPAY is under the management of Service Economy Applications Inc. focusing on the development of cashless system for private and government institutions. Our goal is to standardized the automatic fare collection of the on going Public Utility Vehicle Modernization project of the government and to systematized the transaction processing flow of operators to achieve security transparency. The demand for this kind of system is very high due to the fact that most PUV Operators are struggling to monitor everyday transactions resulting to a large-scale discrepancies in accounts.
FILIPAY’s positioning on security framework is to shortened the process of transactional data transfer for faster verification. The shorter the process logically the easier for the system to efficiently reduce the time of monitoring capacity. Thus, it simplifies the day-to-day work by standardizing methods and automating repetitive tasks – thereby boosting the performance and effectiveness of the entire auditing process. We also applied the implementation of effective automated audit management system that supports organization’s governance on risk management policies.
Service Economy Applications Inc. was incorporated by the Securities and Exchange Commission of the Philippines last April 2018. As young as the company may be, its developer partners can trace back a history of successful product innovations that helped shape the Philippine businesses today.
Our team of developers spearheaded the development of RFID system used in different schools in the country. It offered strengthened security among students as well as assurance and monitoring for the school and the parents. Additionally, the team continues to develop and maintain web applications for clients in various countries and continents including the US, Israel, Russia, and Canada. The team also established the manpower in the Philippines to facilitate and support further demands from international clients. Various products and services were also developed for the B2B and B2C markets.
Finally, in 2018, the company, SEA Inc. was created. It is composed of a group of developers, corporate professionals from different fields of expertise and industry that shares the same vision of offering an alternative to the Philippine’s most pressing problems through its various products and services.
Since late 2018, the company already has its portfolio of products that are awaiting beta test as well as a reliable group of investors. However, due to the limited manpower and resource, the company together with its board and legal counsel, decided to focus on a specific direction that will help the company catapult its operations, thus the unified decision of concentrating on FILIPAY, a mobile application that facilitates various transactions but primary serves as an Automated Fare Collection System (AFCS).
Following the present administration’s drive to improve the Philippine’s public transportation, the Department of Transportation (DOTR) pushed for the implementation of the Public Utility Vehicle Modernization Program (PUVM), where the iconic jeepneys used as the primary source of transportation among Filipinos will be upgraded to a more modern, safer, and convenient version that also features a cashless payment using AFCS.
Having recognized this great opportunity, the company pushed for the registration and accreditation of FILIPAY as an AFCS for the PUVM. Through relentless efforts, FILIPAY secured the approval from the DOTR and is now one of the authorized AFCS providers for different transport cooperatives posing a huge opportunity for the company, its stakeholders, and the FILIPINO commuters.
The company has been secured 125,000 unit of PUJ (Public Utility Jeepney) with an endorsement from the government and cooperatives to install FILIPAY as the automatic fare collection system that will take 3 to 5 years for deployment completion.