Mastercard is working to simplify the daily commute through its “Tap and Ride” program, available in more than 150 cities.
A new global study shows that metro systems around the world are carrying close to 170 million passengers each day, and with that number only expected to grow, improving the speed and reliability of transit services is a key concern for most urban residents.
After launching in London, Sydney and Vancouver, the “Tap and Ride” program has expanded to more cities including Mexico City, Milan and Kaohsiung, Taiwan. In the United States, following the introduction of mobile ticketing on Metro North and Long Island Rail Road (LIRR) in 2016, tap and go payments are expected to become available on New York City’s subway and bus systems as of 2019. And over the next two years, Boston will introduce a new fare payment system, including contactless options.
Mastercard Transit Solutions — along with the company's banking and technology partners — offers cities a contactless or mobile payment option so they can provide better a experience for riders. Not only will commuters no longer waste time waiting in line at the ticket booth or holding up the bus while getting change, but the service is also able to reduce the cost of fare collection by 30 percent or more.
“Everywhere around the world, people have the same need. Getting from Point A to Point B should be as simple as buying your morning cup of coffee,” Hany Fam, executive vice president, enterprise partnerships, Mastercard, said in a press release. “Our technology, insights and partnerships deliver on this expectation — from London to Singapore, and from Bogota to New York City. As the world becomes increasingly urban, accessible and efficient transit links are a key to unlocking economic opportunity — for individuals and for cities.”
Mastercard noted that it has been working on flexible transit solutions for almost a decade, partnering with cities, transit agencies and technology companies, as well as companies such as Microsoft, HERE Technologies, Cubic Transportation Systems, Masabi and Vix Technology.