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Mastercard, LMKR to simplify commuter experience

Mastercard, LMKR to simplify commuter experience

Mastercard, LMKR to simplify commuter experience
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KARACHI: Mastercard has announced a strategic partnership with LMK Resources Pakistan (Private) Limited (LMKR) to oversee the deployment of the country’s first open-loop transit payment solution, a statement said

The collaboration will enable commuters to top-up and pay their transit fares simply by using their debit and credit cards or digital wallets, eliminating the need to buy separate tickets for these services.

The partnership will see Mastercard’s digital payment platforms embedded first into the Zu Peshawar Bus Rapid Transit (BRT) payments infrastructure, used by over 200,000 commuters daily; followed by a wider rollout.

Developing an affordable and accessible public transport system is a crucial enabler for the socioeconomic development in Pakistan, as the country builds an inclusive digital economy.

To-date, Pakistan’s transit systems have been restricted to only cash or closed-loop cards that need to be topped up in advance, resulting in additional time and efforts required by the travellers.

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“Our partnership with LMKR will transform the everyday commuter experience for people in Pakistan. Mastercard’s digital offerings will enable passengers to simply pay using their bank card, wearable device, or smartphone, providing additional freedom for the user and decreasing the costs associated with the special cards and ticket issuances for transit organisations.

As a trusted adviser, Mastercard is committed to forming strategic public private partnership to accelerate the growth of Pakistan’s digital economy,” said Khalid Elgibali, division president of MENA, Mastercard.

“We are delighted to partner with Mastercard to upgrade Pakistan’s current transport payment systems. Enabling distance-based fare collection through widely available contactless debit and credit cards in Pakistan is a milestone moment in Pakistan’s digitalisation journey ahead,” said Iftikhar Atif Khan, president of LMKR.

The announcement follows a series of strategic partnerships with key government entities in Pakistan, cementing Mastercard’s leading role as a partner to the government and a key enabler of digitalisation in the country.

The recent announcements include the digitalisation of the country’s road toll payments network in partnership with One Network.

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