HCMC – Visa, the world’s leader in digital payments, has renewed its memorandum of understanding (MOU) with the HCMC Department of Transport to transform urban mobility across the city.
The partnership aims to develop modern public transit systems with open-loop EMV tap-to-ride technology, allowing riders to use their existing payment cards, and mobile wallets to pay for their transit fare, e-tickets, electric vehicle charging, toll fees, and car-park fees.
“The use of contactless payments will improve the travel experience for all commuters, making journeys more smart, seamless, and secure,” Dung Dang, country manager of Visa Vietnam and Laos, said.
The first MOU between the HCMC Department of Transport and Visa saw contactless tap-to-ride payments rolled out in 50 buses in the city. Under the renewed deal, HCMC aims for a 20-fold increase to 1,000 buses.
The two sides will also continue to engage themselves in initiatives and public policies that will enhance smarter mobility across the city.
HCMC is adopting measures to develop a smart city, including the establishment of an interconnected online ticketing system for public transportation. The suggested plan states that by 2025, all bus public services would accept e-tickets.
With the development of Metro Line 1, the use of cashless payment for public tranportation in HCMC will be more popular in the future.