Mastercard makes digital payments push in Asia-Pacific transit

Mastercard makes digital payments push in Asia-Pacific transit

Mastercard is making headway in advancing digital payments for transit passengers in Australia and bike-sharing consumers in Singapore, writes Banking Technology‘s sister publication Paybefore.

The payments technology company is partnering with Transport for New South Wales to launch contactless ticketing payment for Sydney Ferries and has signed a separate memorandum of understanding to enable Masterpass in-app payments for Singapore’s Mobike, a smart bike-sharing service.

In what Mastercard calls an “Australian first,” commuters can use their Mastercard contactless cards or mobile wallets that have enabled Mastercard cards to tap on the Sydney Ferries. Supporting domestic and international Mastercard cards, the trial will demonstrate how contactless ticketing can make travel in Sydney more convenient, easy and efficient for both residents and tourists.

“Australians are continuously embracing digital payment technology, with 82 percent using tap-and-go to make payments every week,” says Doug Howe, VP of travel and transit development at Mastercard. Citing figures from Mastercard’s 2016 Digital Purchasing Survey, Howe notes that it “makes good sense to extend this option to transport”.

Meanwhile in Singapore, Mobike and Mastercard plan to enable riders to make fast and secure in-app payments via Masterpass. The partnership also will provide insights into the way urban residents travel, and enable local city planners to examine Singapore’s transportation systems and how they can be made smarter and more flexible, the companies said.

The news from Mastercard comes on hot on the heels of Transport for London (TfL) reporting a record of more than one billion contactless transactions for passengers on the capital city’s transit system.

Earlier this year, Mastercard teamed up with the Land Transport Authority (LTA) in Singapore to launch a pilot programme enabling commuters to pay for transit fares using contactless payment cards.