March 4, 2015
More than half of the world’s population lives in cities, and a lot of those cities don’t have the best public transportation options – have you ever been to LA? This issue has led a lot of transportation authorities to search for new ways to better manage the existing demand and create new investments in infrastructure.
Along those lines, Mobile World Congress was held yesterday in Barcelona, Spain and we saw MasterCard announce a global partnership with Cubic Transportation Systems. This alliance is designed specifically to help the millions of daily commuters around the world experience faster, more convenient ways to get around via tapping the power of their mobile devices.
“MasterCard and Cubic, both lead members in the Smart Cities Council, share a vision to improve quality of life for everyday citizens in cities and help authorities to better manage population growth and urban development,” says Will Judge, head of Urban Mobility, MasterCard Enterprise Partnerships. “Combining our expertise and reach allows us to ultimately drive greater value and make consumers’ lives easier and more enjoyable as they travel around and between connected cities.”
The penetration of smart devices is opening up new opportunities for service operators to connect with transportation users before, during, and after a journey to in turn provide a more tailored and efficient experience. By combining MasterCard’s leadership in payments and loyalty management with Cubic’s NextCity platform the partners aim to develop solutions that:
- Provide individual travelers with real-time guidance on their mobile devices on the smartest way to travel, offering fare incentives if the system becomes congested or overcrowded
- Enable transportation operators to offer flexible pricing based on system demand
- Offer retailers at and around transportation hubs ways to alert travelers to personalized offers and rewards on the go
As part of the agreement, MasterPass, MasterCard’s secure digital payment service, will be integrated with Cubic’s NextWave ticketing and journey planning app.
The whole goal of this partnership is to accelerate the conversation of the currently $200 billion cash payments into digital payments, saving operators cost for cash-handling and speeding up through-put. Introducing global payment solutions for urban transportation systems, the hope is that traveling between cities will become easier with no need to carry multiple tickets.
“Partnering with MasterCard elevates the offerings within our NextWave mobile solution to a new level, and strengthens our NextCity story to demonstrate to urban centers everywhere how serious we are about addressing their transportation challenges,” says Matt Cole, executive vice president, strategy and business development of Cubic Transportation Systems.
Did you like this article?
Get more delivered to your inbox just like it!