Maldives Transport and Contracting Company (MTCC) inked a Memorandum of Understanding (MOU), on Monday, with Bank of Maldives (BML) and Mastercard to develop an integrated transport management and automatic digital fare collecting system for its public transportation services.
The project is part of Mastercard’s ‘Smart Cities’ effort, which aims to provide urban mobility solutions that will improve city transportation. As part of this, contactless and digital payments will be implemented on the MTCC bus and ferry networks, making travel easier for commuters while also saving money for service providers.
MTCC CEO Adam Azim stated during the event, “We are delighted to partner with BML and Mastercard to provide even more convenience to our customers.”
While noting that the last year has demonstrated the essential necessity of innovative and contactless payment methods, Azim stated that MTCC would aim to deliver services that are safe and easy for the public to use.
“This service will undoubtedly make the use of public transport simple and straightforward,” Azim continued.
“Investing in innovative solutions that offer simplicity and convenience while meeting the changing customer expectations remains an important part of our business,” said BML CEO and Managing Director Tim Sawyer during the ceremony. “We are delighted to partner with Mastercard and MTCC to implement this project which will see our digital card and mobile payment solutions enabled for the public transport sector.”
During the event, Rajesh Mani, Mastercard Country Manager for Sri Lanka and Maldives, stated that the firm is pleased to assist the Maldives government in implementing its open-loop Mastercard Transit Solutions system. He claims that the technology would result in considerable cost savings while providing passengers with unsurpassed convenience.
“Through this program, Mastercard currently has simplified the daily commute in over 150 cities around the globe and is proud to bring this wealth of experience to help the Government of Maldives realize its digitization strategies,” he added.