BML signs MoU to introduce digital payments for public transportation

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.

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.

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.

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.