As technology paves the path for streamlined digital efforts and more people move into cities, the payment options in some urban areas are struggling to keep pace.
To help move itself into the fast pace of today's tech savvy consumer, Mexico City has announced its plans to work with Mastercard to help digitally upgrade its city. This process is being called the creation of sustainable urban development.
First on Mexico City and Mastercard's list is upgrading its public transportation system by working with local banks to launch a special debit card that can be used for both everyday purchases as well as transport options. Additionally, Mastercard will help enable expanded use of electronic payments to local SMBs. Mexico City is also hoping to gain significant insight into its international tourism industry, helping to provide more personalized experiences to visitors.
Mastercard's president of its Mexico and Central America territories, Antonio Junco, commented on this new joint venture with Mexico City. He said "Mexico City has tremendous experience in managing the daily operations of a mega city - a task that is constantly evolving. We look forward to providing our expertise to help Mexico City continue on its path to become a smart, connected and inclusive city - advancing a better quality of life for all its citizens."