Reliance Infrastructure-led Mumbai Metro One Private Limited (MMOPL), along with its partners MasterCard and Axis Bank, for the first time in India, introduced a unique chip-based MasterCard for tickets. This card, with an additional wallet targeted for use in transit systems, will facilitate transactions and make the ticketing process 10 times faster.
According to MMOPL, the idea behind introducing this card was that cards linked to accounts take a longer time to process transactions, as transactions are verified online on a server through remote access. Wallet-based card transactions get processed at the card level within a fraction of seconds. Hence, they are most suitable for use in transit systems. MasterCard plans to provide its facility at all retail outlets operating in Mumbai Metro One and provide special discounts to commuters in order to promote its usage. E-balance on the card can be used for online transactions like shopping and utility payments, amongst others.
Mumbai Metro One, which operates services between Versova and Ghatkopar, has been introducing new technological advancements and quality innovations. As part of this, the chip-based card is one such step. MasterCard’s first true open loop system in India allows cards issued by different payment networks to be accepted in Metro. Thus, customers will have multiple options to select as per their choice and preference.
The card has been introduced after extensive and successful testing, developed on the principles of contactless or ‘tap-and-go’ technology. It has a unique feature of prioritising transactions for faster results.
It will be available at all Metro stations and Axis Bank website and can be recharged online, at ticket counters or Customer Care counters at all Metro stations.
Col. Shubhodoy Mukherjee, CEO, Mumbai Metro One said that they are extremely happy that such an advanced product is being launched for the transit system. "Focusing on enhancing commuter experience, Mumbai Metro One and MasterCard have designed this card emphasizing on the need for speed at checkout, which is important for Mumbaikars. This technology will ensure swift, contactless and cashless travel. This is also aligned to Mumbai Metro One’s initiative to allow existing debit / credit cards issued anywhere in the world to be accepted on the Metro."