This collaboration was awarded Transport Ticketing Global's "Best Smart Ticketing Programme (<200K Daily Journeys)" in March 2024.
Results
The new multi-model technology utilizing open-loop and contactless payments has been able to drive digital transformation in the region by enabling contactless and online transport payments as an alternative to cash.
| 72% | increase in digital transactions since the launch of open loop payments |
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Sources:
1. https://mtcc.mv/transport-services/?doing_wp_cron=1702569220.7489631175994873046875
2. https://globaledge.msu.edu/countries/maldives/economy
3. https://mtcc.mv/wp-content/uploads/2023/05/Annual-Report-2022_.pdf
4. https://www.worlddata.info/asia/maldives/tourism.php
5. https://www.mastercard.com/news/ap/en/newsroom/press-releases/en/2023/mastercard-collaborates-with-maldives-transport-and-bank-of-maldives-to-enable-digital-payments-acceptance-on-the-country-s-public-transport-network/