Bank of Maldives (BML) and Maldives Transport and Construction Company (MTCC) has signed an agreement to implement an integrated transport management and automatic fare collection system for the public transport service operated by MTCC in the Maldives.
BML revealed the project is part of Mastercard's Smart Cities initiative to introduce urban mobility solutions to transform the transport experience in cities, adding contactless and digital payments will be introduced on the bus and ferry network, making travelling simpler for commuters and cost-effective for service providers as part of the system.
Speaking at the ceremony, the CEO of MTCC Adam Azim expressed delight to have joined with BML and Mastercard to offer more convenience for customers. The past year has shown the critical importance of innovative and contactless payment methods, and as always, the aim is to strive to provide services that are safe and easily accessible for the public, he added.
Commenting on the project, CEO and Managing Director of BML Tim Sawyer said investing in innovative solutions that offer simplicity and convenience while meeting the changing customer expectations remains an important part of the business.