On July 08, 2021, Mastercard, Mumbai Metro One Private Ltd (MMOPL), and Axis Bank launched ‘One Mumbai Metro Card’ for Mumbai People (Mumbaikars) to enable cashless and contactless travel.
- Objective: To change the way Indians travel regularly and to modify the transit ecosystem into completely digital.
Features of ‘One Mumbai Metro Card’:
i.Type: It is a prepaid, open-loop contactless card and the users could ‘Tap’ their card on a contactless Point-of-Sale (PoS) terminal to make payment. It also has the ‘top-up’ feature for daily payments.
ii.Along with metro fare, this card could also be used for all other daily expenses such as food, groceries, medicines, shopping, etc.
iii.It will enable the transit agencies to design, develop and deploy customized prepaid digital payment solutions to provide a contactless transit experience to their users.
iv.The card will contribute to the country’s larger aim of ‘Envisioning transport 2030’
Recent Related News:
In June 2021, Mastercard made a strategic equity investment in Instamojo to digitize and empower Micro, Small and Medium Enterprises (MSMEs) and gig workers by providing ‘easy to use solutions’.
About Mumbai Metro One Private Ltd (MMOPL):
It is a subsidiary of Reliance Infrastructure
Headquarters – Mumbai, Maharashtra
CEO – Col. Shubhodoy Mukherjee
Headquarters (Global) – New York, U.S.
Headquarters (India) – Mumbai, Maharashtra
CEO – Michael Miebach