Transit Link Pte Ltd (TransitLink) and MasterCard today announced a collaboration that will see the start of MasterCard card payment acceptance for transit services in Singapore.
With this agreement, commuters will now have an additional way to pay for transit top ups, card replacements and other services. The use of card payments - including contactless (MasterCard® PayPass™) - will supplement the range of options currently available to commuters in a sector traditionally dominated by cash-based transactions, and reduce the amount of time spent queuing for and processing payments.
By mid-2014, nine of TransitLink's Ticket Offices will be enabled to accept MasterCard cards. These offices were selected for their high transaction volumes and are located at Bugis, Changi Airport, Chinatown, City Hall, Farrer Park, Lavender, Orchard, Somerset and Woodlands. TransitLink also expects to enable three more offices with contactless payment capabilities by 2015. Each credit card transaction comes with a convenience fee of S$0.50.
With over five million trips made on public transit across the island daily, TransitLink's Ticket Offices, which are located at select MRT stations, bus interchanges, major bus stops and several key locations, are key points at which many commuters add value to their transit cards.
Tourists visiting Singapore will benefit significantly with a more seamless commute, reducing the need for cash in the local currency to pay for travel on buses or trains. The nine locations were also selected for their higher traveller usage, as these are the go-to points for tourists travelling between places of interest.
"We are constantly looking for ways to simplify and save time for commuters, and offering a diverse range of payment options is key to achieving this. This collaboration with MasterCard, a global leader in the payment industry, allows for the provision of cashless payment alternatives, giving TransitLink the opportunity to better serve the diverse needs of our modern commuters," said Lee Yuen Hee, Chief Executive Officer, Transit Link Pte Ltd.
"This partnership with TransitLink is an exciting step forward in MastesterCard's push to advance cashless in Singapore. Major taxi companies in Singapore already accept MasterCard cards for payments, and now commuters can also enjoy the simplicity and convenience of using their MasterCard cards to top up their transit cards. Tourists too will have a better travel experience as they will no longer have to worry about having the right amount of small change in the local currency to cover their transport expenses," said Julienne Loh, General Manager, Singapore, MasterCard.
This collaboration augments TransitLink's current online and mobile payment offerings to provide positive customer experiences and enables both organisations to further explore joint projects in the transit payment arena.