Businessman Chavit Singson is taking a hands-on approach to ensure the success of the government’s Public Utility Vehicle Modernization Program (PUVMP) by making it more inclusive and financially accessible to Filipino jeepney operators.
The senatorial candidate graced the Western Visayas Transport Summit in Iloilo City on Friday, Nov. 15 and formally launched his e-jeep. He also shared how his involvement in the modernization effort began even before he officially entered the Senate race.
While Singson acknowledged that the PUVMP was a well-intentioned initiative, he pointed out that its financial model was impractical for many drivers—particularly those without access to bank loans or the financial literacy to navigate the system.
“When I saw the challenges faced by drivers, I knew there had to be a better way. Many of them could not afford the loans or had limited access to banking services. That’s when I decided I would personally fund the transition,” he said.
Singson pledged to provide zero-interest loans to jeepney operators, effectively removing the financial barrier that has kept many from participating in the program. His commitment to modernization includes providing electric jeepneys that are not only more affordable but also environmentally friendly.
“Many drivers and commuters, especially in rural areas, still lack access to formal banking services, which makes it difficult for them to engage in the increasingly cashless society,” he said.
To address this, Singson introduced VBank, a digital payment platform linked to his Vigan Rural Banco Incorporada. The platform provides users with a preloaded card that has a P100,000 limit, which can be used to pay for jeepney fares and even send money to family members through the associated mobile banking app.
VBank offers an innovative solution for the unbanked Filipinos who struggle with financial illiteracy and access to traditional banking services. It allows jeepney passengers to pay their fares digitally, eliminating the need for cash, while providing an easy and accessible way for drivers to manage earnings and transactions.IMT
