A Memorandum of Understanding (MOU) has been signed on implementing an integrated transport management and automatic fare collection system for the public transport service operated by Maldives Transport and Contracting Company (MTCC).
The MoU was signed with MTCC and Mastercard on Monday, and comes under the latter’s ‘Smart Cities’ initiative to introduce urban mobility solutions to transform the transport experience across cities.
As part of the agreement, travel will be eased for citizens and cost-effective solutions will also be provided for service providers, with the introduction of contactless and digital payments on the bus and ferry network.
Investing in innovative solutions that offer simplicity and convenience while meeting the changing customer expectations remains an important part of our business. 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.”Tim Sawyer, CEO and Managing Director of BML.
Rajesh Mani, the Mastercard’s Country Manager of Maldives and Sri Lanka, revealed that their open-loop Mastercard Transit Solutions system will bring significant fiscal savings all the while offering unparalleled convenience to customers.
We are very happy to once again join hands with the Government of Maldives, this time to implement our open-loop Mastercard Transit Solutions system which will bring about significant fiscal savings, while offering unparalleled convenience to commuters. 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 realise its digitization strategies.”Rajesh Mani, the Mastercard’s Country Manager of Maldives and Sri Lanka.
Further speaking at the signing ceremony, MTCC CEO Adam Azim revealed that the company will strive to provide services that are safe and easily accessible for the public, adding that the service implemented under the MoU will “undoubtedly” make the use of public transport simple and straightforward.
We are delighted to partner with BML and Mastercard to provide even more convenience to our customers. The past year has shown the critical importance of innovative and contactless payment methods, and as always, we will strive to provide services that are safe and easily accessible for the public. This service will undoubtedly make the use of public transport simple and straightforward.”Adam Azim, MTCC CEO.
BML is committed to support businesses, communities and individuals nationwide, with a nationwide network of 35 branches spanning 20 atolls, 73 self service banking centers, 134 ATMs, over 200 agents and a full suite of digital banking services.
