Mastercard has announced a strategic partnership with LMK Resources Pakistan (Private) Limited (LMKR) to oversee the deployment of the country’s first open-loop transit payment solution.
The collaboration will enable commuters to top-up and pay for their transit fares simply by using their debit and credit cards or digital wallets, eliminating the need to buy separate tickets for these services. The partnership will see Mastercard’s digital payment platforms embedded first into the Zu Peshawar Bus Rapid Transit (BRT) payments infrastructure, used by over 200,000 commuters daily, followed by a wider rollout.
Developing affordable and accessible public transport systems is a crucial enabler of socio-economic development in Pakistan as the country builds an inclusive digital economy. To date, Pakistan’s transit systems have been restricted to only cash or closed-loop cards that need to be topped up in advance, resulting in additional time and efforts required by travelers.
“Our partnership with LMKR will transform the everyday commuter experience for people in Pakistan. Mastercard’s digital offerings will enable passengers to simply pay using their bank card, wearable device, or smartphone, providing additional freedom for the user and decreasing the costs associated with special cards and ticket issuances for transit organizations. As a trusted advisor, Mastercard is committed to forming strategic public-private-partnerships to accelerate the growth of Pakistan’s digital...
Read Full Story: https://www.techjuice.pk/mastercard-partners-with-lmkr-to-build-pakistans-first-open-loop-transit-solution-and-simplify-the-commuter-experience/
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