No More Top-Ups! No Need to Carry Separate Fare Card! Singapore First In Asia to Allow Direct Payment of Public Transport Rides Using Contactless Credit or Debit Cards
The Land Transport Authority (LTA) and Mastercard are jointly launching a pilot of the Account-Based Ticketing (ABT) System for public transport, by allowing the usage of contactless credit cards and contactless debit cards for fare payments. Singapore will be the first in Asia, and one of the few cities in the world, to enable this.
The pilot will be launched on 20 March 2017, and will be applicable for all public bus and train rides. Commuters holding Singapore-issued Mastercard contactless credit or debit cards can register their interest on the TransitLink ABT Portal, if they have not been pre-registered by their banks. In all, LTA and Mastercard hope to attract at least 100,000 commuters to participate in the pilot.
Cardholders who are accepted onto the pilot will be able to enjoy a “tap and go” fare payment experience by simply tapping their Mastercard contactless credit or debit card on the bus or MRT fare readers. They will no longer go through the hassle of having to carry and constantly top up a separate fare card, and instead will be conveniently charged for their public transport rides in their credit or debit card bill. Through the TransitLink ABT Portal or Mobile Services app, they will be able to track their journey and fare payment history.
LTA’s partnership with Mastercard goes towards furthering Smart Mobility efforts, one of the key pillars of Singapore’s Smart Nation vision. It is another step forward in the journey to tap on digital payment technology to enhance commuters’ mobility experience. For LTA, it follows an earlier initiative to enable Account-Based payment of ERP charges, where motorists are able to pay for their ERP charges using their credit/debit cards or via their bank account without a need for a physical stored-value card.
Mr Ngien Hoon Ping, Chief Executive of LTA, said, “We are pleased to partner Mastercard in this pilot. Singapore is one of the first few cities in the world to test this fare payment system for public transport. LTA is committed to leveraging technology advancements to provide more convenience to commuters. Account-Based Ticketing using contactless credit or debit cards will add another option to how commuters can pay for their public transport rides.”
Ms Deborah Heng, Country Manager of Mastercard Singapore, said, “Apart from use on public transport, Mastercard contactless payments are already available in many popular retail and F&B merchants, as well as a large number of taxis. The introduction of Account-Based Ticketing in Singapore’s public transportation system is the latest in Mastercard’s commitment to deliver smart city solutions to Singapore. In the near future, we expect to broaden contactless access by enabling mobile and wearable devices for cashless use.”
About the Land Transport Authority (LTA)
The Land Transport Authority (LTA) is a statutory board under the Ministry of Transport. LTA plans the long-term transport needs of and spearheads land transport developments in Singapore. While serving commuters by providing an integrated and user-friendly transport system, LTA addresses wider issues such as sustainable development, economic growth, and community life. LTA looks forward to working with leading companies to develop innovative transport solutions, and making Singapore’s transport system more convenient, more seamless, and more people-centred.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardAP and @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
The above is a joint press release by LTA and MastercardFollow us on Social Media
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