Mastercard Transit has expanded its partnership with 20 US cities to digitise the transit passes.
Aiming to accelerate the adoption of contactless payments, Mastercard is powering the technology to ease commuting time for consumers.
Go deeper with GlobalData
Consumers rushing to catch the bus, train or subway understand the chaos that can emerge if the process isn’t seamless and quick. The Mastercard Transit vision wants to see consumers make all their commuting payments with a simple flick of the wrist.
Furthermore, Mastercard announced its expansion that will continue to grow over the next few years.
In addition, the payments company has already integrated its technology into 16 metro areas. These include Los Angeles, Boston and also Denver. The contactless technology makes getting from place to place as simple as buying a morning cup of coffee.
President of Cubic Transportation Systems, Matt Cole, commented: “Globally, the majority of all urban transportation is paid in cash, which can mean long lines at ticket stations and machines, missed trains and delays on buses.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“For consumers, contactless technology provides a seamless, secure experience that moves people through stations and on to buses seamlessly and without friction. For transit authorities, the increased speed can expand ridership, reduce dwell times and operational costs.”
Mastercard Transit: enabling a contactless landscape
Mastercard continues to accelerate contactless payments around the world. Moreover, London is a key example of a city hurtling towards cashless technology. All the transportation is cashless, enabling the millions of commuters to get to work quickly.
Furthermore, in London, 50% of all Tube and rail pay-as-you go commutes are now made using contactless payment cards or mobile devices, with cardholders representing over 100 countries. Since contactless transit launched in Vancouver, it took only two months to reach one million contactless journeys.
Executive vice president, US Merchants and Acceptance of Mastercard, Linda Kirkpatrick, said:
“Transit is an important catalyst for quick and broad adoption of contactless.
“There are technologies that need to be integrated both at the device-level and infrastructure level. Mastercard is deeply engaged with cities, their transit authorities and integrators in bringing new products and solutions to support their payments transformation.”
