Mastercard

Mastercard Offers Fare Discounts, Refunds For Contactless Transit Payments

Mastercard has announced that it will refund cardholders up to $10 off their cab rides, every Tuesday through the end of the year (including New Year’s Eve and Day), in yellow or green taxis equipped with Curb Mobility or CMT technology systems in New York City.

In addition, the company is bringing back its Fareback Friday program for the holiday season so that cardholders who tap and pay for their subway rides will get a refund on their fare. The program was first available over the summer, allowing riders who use their Mastercards’ tapping capabilities — for rides between 42nd Street-Grand Central and Atlantic Avenue-Barclays Center along lines four, five and six — to have their fares refunded.

The program aims to get subway riders familiar with the process of tapping their Mastercards to pay. To know if a card has tap-and-pay capability, consumers can check for a Wi-Fi logo on the front or back of the card. Mastercard users can also add their payment info to a phone to tap and pay that way.

“Mastercard is thrilled to partner with the MTA to completely transform the experience for commuters in New York City,” said Mastercard Executive Vice President of U.S. Merchants and Acceptance Linda Kirkpatrick, at the time. “Mastercard cardholders who tap their cards or phones at subway turnstiles will benefit from shorter wait times and a slick experience. Mastercard will be the first to offer cardholders an incentive to tap and pay for their subway ride.”

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LATEST PYMNTS REPORT: B2B API TRACKER 

Social distancing has changed eCommerce from a ‘want to have’ to a ‘must have’ for businesses, yet retailers could struggle to create convenient payment and refund experiences for their apps and websites, says Abdul Raof Latiff, head of DBS Bank’s digital institutional banking group. In the April 2020 B2B API Tracker, Latiff explains how banks can provide a timely assist via application programming interfaces (APIs) that integrate payments into those eCommerce platforms.

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