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CASE STUDY

Maldives Transport simplifies customer experience

New contactless open-loop payments on buses and ferries provides simple, convenient payments

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The Challenge

Transportation services in Maldives have seen a great expansion over the past few years. Maldives Transport and Contracting Company Plc (MTCC), the longest serving public company in the Maldives, is part of everyday life for Maldivians covering almost 85% of the Maldivian population¹.

In addition to heavy reliance on public transportation for its citizens, the Maldives islands are also a popular tourist destination. In 2022, tourism was the largest sector of Maldives' economy, providing for more than 28% of GDP and 60% of foreign exchange².

MTCC recognized the need to provide local and visiting riders with a simple and convenient way to pay.

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6M+

ridership on RTL bus services, Greater Male’ Region in 2022 [3]

62nd

tourist destination in the world [4]

1M

tourists visited the Maldives in 2021 [4]

The Solution

Open loop payments, popular with smart cities worldwide, provide Maldives Transport and Contracting Company a way to simplify commuters’ journeys on public transport. This is especially helpful for overseas visitors as it enables travelers to immediately get around easily using their existing credit or debit cards, without having to exchange currency or look for an ATM machine.

The new multi-model technology enables commuters to simply tap their contactless credit and debit cards on a ticketing device (provided by a third party) 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.

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This collaboration was awarded Transport Ticketing Global's "Best Smart Ticketing Programme (<200K Daily Journeys)" in March 2024.

Payments on the go

September 2021

Mastercard, Maldives Transport & Contracting Company (MTCC) and Bank of Maldives (BML) roll out the first multi model open loop transit payment and digital ticketing system in South Asia⁵

September 2022

MTCC rolls launches QR payments for riders

January 2023

New contactless transactions launch

December 2023

RTL Mastercard co-branded prepaid card launches providing commuters who don’t have a debit or credit card with a new touch-free alternative

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

Related

Mastercard and FreedomPay Unlock Global Commerce With New Payment Gateway Partnership

This collaboration will provide businesses worldwide with a simplified and extended global payment gateway solution, streamlining their ability to connect with over 230 acquirers and acceptance of a wide array of local and global payment methods.

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