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Mastercard is Becoming the Ticket to Ride in More Than 80 Global Cities

May 18, 2017 Financial No Comments Email Email

As residents and visitors of the world’s major cities look for the best way to get around, Mastercard is making commuting easier, faster and more consistent.http://www.stevecafeandcuisine.com/ In over 80 cities around the globe, Mastercard and its partners are enabling users to pay for their train or bus simply by tapping their card or swiping their phone.

With one of the year’s major vacation periods approaching, consumers will be able to use the devices they already carry to access public transport in a growing number of cities, including popular tourist destinations such as London, New York, Chicago, Milan and St. Petersburg.

“With a Mastercard in their wallet, more and more people have a go-to transit pass for the city they’re in,” said Ian Slater, senior vice president, enterprise partnerships, Mastercard. “In today’s connected world, having to figure out a new ticketing system every time people visit a new city is the opposite of a seamless experience. Our technology is helping to make the world a smaller, more accessible place.”

Contactless and mobile ticketing get users on the way
Moving towards a world beyond cash, Mastercard is partnering with cities and other technology companies to improve overall quality of life, while helping them manage their logistics in a more efficient way.

For example, since the introduction of contactless payments across London’s transit system in 2014, 40 percent of daily pay-as-you-go journeys on the city’s underground, buses and commuter rails are paid that way. When commuters tap their contactless card or device at one of the readers, they’re guaranteed the best available fare at the end of a day or week.

In New York, travelers can “Masterpass” their ticket on their mobile device to access commuter rail lines. In Bogota, more than 20 million trips on the city’s public transport system each year are made using a combined payment and transit card.

In Singapore, contactless ticketing was recently launched across the city’s transit network, making it the first city in Asia to bring this convenience to its commuters.

“While every city has its own characteristics, virtually all of them are dealing with congestion and pollution, hence they are eager to shift passengers from cars to public transport,” said Pablo Tomasi, senior analyst, smart cities and IoT, IHS Markit. “With constraints on their budgets, cites are looking for smart, cost efficient ticketing and demand management solutions that enhance urban life.”

As city and industry representatives convene in Montreal for the biannual Global Public Transport Summit (UITP) this week, Mastercard will be showcasing its latest solutions for contactless and mobile ticketing, as well as data analytics.

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