Mastercard enables digital payments on Maldives' public transport network

Friday 12 May 2023 10:09 CET | News

Mastercard has partnered with Maldives Transport and Contracting Company (MTCC) and Bank of Maldives (BML) to launch an open loop transit payment and digital ticketing system.


The new technology, powered by Mastercard Payment Gateway Services (MPGS), will enable seamless credit card and debit card payments across Maldives’ public transport network, including buses and ferries.

 Mastercard has partnered with Maldives Transport and Contracting Company (MTCC) and Bank of Maldives (BML) to launch an open loop transit payment and digital ticketing system.

Augmenting digital payments for government entities

The move is part of Mastercard’s strategic ambition to work as a trusted partner of government and private sector entities to accelerate digital payments uptake and usage across key sectors, such as transit.

Officials from MTCC said that being one of the longest serving public company in the Maldives, MTCC remains at the forefront of the development of high-quality and hassle-free infrastructure and transport services in the country. The company is happy to have collaborated with Mastercard to launch this multi-model transit payment and digital ticketing system, which will significantly improve the commuting experience by enhancing convenience and saving time.

Also commenting on this partnership, representatives from Mastercard said they are happy to support MTCC’s vision to deliver augmented services and payments solutions to the people of Maldives. With open loop acceptance for contactless credit and debit cards, commuters will be able to enjoy a frictionless experience, while accelerating digital payments adoption in the country. For many years, Mastercard has worked to simplify daily commutes in cities around the globe.

The new multi-model technology will enable commuters to simply tap their contactless credit and debit cards on a ticketing device inside the bus or at a ferry terminal to pay for their journey, or pre-purchase tickets online via the Raajje Transport Link (RTL) mobile app. Alternatively, commuters who do not have a credit or debit card can apply for a RTL-Mastercard co-branded prepaid card.

Executives from Mastercard added that they are working with transit operators and governments throughout the Asia Pacific region and around the world to simplify commuters’ journeys on public transport. This is especially helpful for overseas arrivals to a country, such as the Maldives, as it allows travellers to immediately get around easily using their existing credit or debit cards, without having to exchange currency or look for an ATM machine. As open loop becomes one of the most widely adopted payment method across smart cities worldwide, Mastercard is pleased to contribute its expertise in support of the Maldives being added to this list.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: MasterCard, digital payments, public transportation, partnership, debit card, credit card
Categories: Payments & Commerce
Companies: Bank of Maldives, Maldives Transport and Contracting Company, Mastercard
Countries: Maldives
This article is part of category

Payments & Commerce

Bank of Maldives


Maldives Transport and Contracting Company



Discover all the Company news on Bank of Maldives and other articles related to Bank of Maldives in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events