FPT IS and Mastercard collaborate to integrate payment technology into HCMC's Metro Line No. 1

Recently, FPT IS has signed a memorandum of understanding (MoU) with Mastercard to advance the deployment of the EMV OpenLoop electronic payment system and the ID Card payment application for the Ben Thanh - Suoi Tien metro line, managed by Ho Chi Minh City (HCMC) Urban Railway Company No. 1 (HURC1). This partnership represents a significant milestone in Vietnam's push towards "cashless payment," integrating innovative payment technology into the public transportation system. The initiative aims to enhance the digital economy and improve the public service experience for millions of users.

Applying payment technology to ticketing and smart traffic management systems

This MoU between FPT IS and Mastercard marks a significant advancement in the integration of e-ticketing technologies and the EMV OpenLoop payment system in public transportation. The use of Citizen Identification Cards (ID Cards) for payments and the EMV OpenLoop system will not only enhance convenience for all passengers but also ensure that those eligible for fare exemptions can easily access their benefits.

Implementing the EMV OpenLoop model will significantly enhance the user experience by allowing passengers to use their existing bank cards, QR codes, or ID Cards for payments. This move not only promotes a cashless payment culture but also raises awareness about the benefits of using public transport and supporting environmental protection. Additionally, the system will enable HURC1 to digitize its data management processes. This digital transformation will improve planning efficiency, route allocation, and overall service operation.

The EMV OpenLoop payment system and smartphone application payment solutions implemented by FPT IS will adhere to global international payment standards for security and certification. It ensures rigorous control over account registration, authentication, and payment processes. The diverse EMV OpenLoop ecosystem includes: The MegaApp application; ID card management system; E-wallets; All types of EMV cards; Bank cards available on the market. Passengers will benefit from reduced waiting times when purchasing train tickets, as they can use their EMV cards for quick and easy payments. This e-ticketing system will save time compared to traditional methods. Passengers won't need to carry small change, wait in line, or manage multiple tickets. They can also easily access their travel history, track their travel behavior, receive updates on promotions, and manage their costs more effectively.

Promoting the deployment of the EMV OpenLoop electronic payment system and the application of ID card payment for Metro Line No.1 (Ben Thanh - Suoi Tien)

Ms. Van Thi Huu Tam, Deputy Director of HURC1, stated: "As Metro Line No. 1 nears its commercial launch, our focus is on comprehensive digital transformation. We aim to implement cutting-edge payment solutions to enhance convenience, speed, and safety for public transport passengers in Ho Chi Minh City". Optimizing ticket purchasing and payment processes is essential, with an expected daily ridership of 40,000 in the initial phase.

A Mastercard representative for the Asia-Pacific region highlighted that the eTicketing and EMV OpenLoop e-payment system represents a significant advancement in streamlining the booking and payment experience for public transport users. With the OpenLoop payment system already implemented in 390 countries, HCMC residents will soon be able to pay for travel tickets using bank cards or smart devices like mobile phones and smartwatches. "Mastercard and our partners aim to deliver a secure, satisfying, and seamless experience. We believe that with the combined technological expertise and experience of Mastercard and FPT IS, this smart management system will set a benchmark for other public transport projects in Vietnam and the region," said the Mastercard representative.

Mr. Dang Truong Thach, Executive Vice President and Deputy CEO of FPT IS, shared his enthusiasm for the collaboration: "This project will not only enhance convenience for Ho Chi Minh City residents using public transport but also pave the way for the city to evolve into a 'cashless' urban center, aligned with regional standards. I am honored to partner with Mastercard in leading the development of eTicketing services and EMV OpenLoop payment technology for HURC. Our goal is to provide city residents with a seamless public service experience. We believe that with the advanced technology from FPT IS and the strong support of Mastercard and HURC, we will transform the public transport experience, reduce energy consumption, and contribute to the city's green transformation goals."

Mr. Dang Truong Thach also expressed his hope that the collaboration between FPT IS and Mastercard will extend beyond just deploying the payment system for Metro Line 1. He envisions a longer-term goal of developing a smart and sustainable transportation ecosystem for HCMC. Both parties are committed to working closely together to deliver optimal solutions that advance modern urban areas and enhance residents' quality of life.

Under the terms of the signed MoU, FPT IS and Mastercard will serve as strategic partners in implementing cashless payment technology within Ho Chi Minh City's public transport sector. This initiative is set to expand throughout Vietnam and the region. This collaboration not only provides tangible benefits to the HCMC residents but also marks a significant milestone in advancing high-tech solutions for public transport infrastructure across Vietnam.