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Mastercard and Thales Collaborate for Improved Mobility Payment Solutions

Mastercard and Thales Collaborate for Improved Mobility Payment Solutions
photo: Thales/Mastercard and Thales Collaborate for Improved Mobility Payment Solutions
12 / 06 / 2023

Thales and Mastercard are pleased to announce the signature of a framework agreement confirming their international cooperation in mobility ticketing and payment activities. This partnership reflects the mutual commitment of Thales and Mastercard to consider together the various opportunities that arise in the market.

Mastercard is a key player in open-loop payments, the payment system that provides users with a seamless experience in public transport payment systems. There are billions of mobility transactions processed on the Mastercard network each year (Public/Private Mobility & Automotive). Mastercard is focusing on making rider journeys simpler, quicker and more efficient across all modes of transportation whether by train, bus, bike, scooter, taxi, ride-hail or driving.

"The Mastercard team is proud to formalize our partnership with Thales, one of the largest and most diverse IT ticketing and revenue collection companies in the world. We look forward to working with the team at Thales to drive increased global ridership, remove rider friction, and lower costs for transit and mobility operators," says Chapin Flynn, Global Head of Urban Mobility at Mastercard.

The agreement establishes a trusted partnership with Mastercard to foster public mobility adoption and offer cutting-edge technologies and integrated ticketing and payment solutions to transport authorities and operators around the globe.

“We are thrilled to announce our Memorandum of Understanding with Mastercard. This collaboration will facilitate the integration of cutting-edge technology and secure payment solutions to better respond to our customer’s needs. Together with Mastercard we are committed to delivering efficiency, reliability and safe infrastructure to our customers. This agreement reflects our dedication to making travel simpler and convenient to everyone,” says Jean-Marc Reynaud, Head of Revenue Collection Systems, Thales.

Within five years timeframe of the agreement, Thales and Mastercard’s joint expertise will result in new technologies that will define the future of digital mobility and will strengthen their leading position in the market.

Source: Thales