Mastercard has teamed up with Microsoft on a smart city pilot aimed at using payment, data analytics and cloud technologies to derive better understanding of economic issues in urban areas.
The insights obtained from the two-city pilot will be used to effectively address urban challenges such as traffic congestion or economic development.
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Under the collaboration, Mastercard’s payment technologies and solutions will be adopted into Microsoft’s CityNext programme that accelerates digital transformation in smart cities.
In turn, Microsoft plans to join Mastercard’s global City Possible initiative to jointly work towards creating and scaling solutions for urban problems.
The collaborators also intend to identify additional approaches through which more cities can enable people to pay for transit fares using their existing payment devices.
Microsoft CityNext managing director Trudy Norris-Grey said: “Microsoft CityNext is helping cities implement solutions that address their most pressing needs and harness the next generation of innovation by leveraging cloud computing, AI, and other technologies.
“Our collaboration with Mastercard is an important step toward our goal of empowering cities to be more sustainable, prosperous, and inclusive.”
Mastercard executive vice-president for global cities Miguel Gamiño said: “From access to basic services such as transport and affordable housing to engaging arts and culture – locals and tourists expect that cities make good use of resources that already exist and harness emerging technologies. That’s why today we invite public and private sector leaders to join us in making tech truly work for people.”
