Cities don’t exist in isolation, but instead as part of a web of interactions and connections that take place across the globe. More and more people spend their time in urban places and by 2050 2 out of every 3 people will live in a city. Cities are where people go for business and pleasure and they see a constant exchange of people, goods, services and ideas.
International tourism is growing at 6% a year and with over 300 transit fare schemes across the globe we find ourselves facing unfamiliar public transport systems in unfamiliar places leaving us pretty confused and often heading straight for the taxi queue which adds to congestion and pollution in cities.
At MasterCard we see efficient urban mobility, how people get around cities in a simple and seamless way, as key to enabling citizens and visitors to go about their lives with ease and enabling businesses to innovate and grow.
We are interested in how our emerging payment technologies and network of global partners can be applied to the challenges that cities face such as overcrowding and congestion.
We’re working with partners such as Cubic, Masabi and Parkeon to help create smart cities for smart citizens. Combining our expertise to help the millions of commuters around the world experience a faster, more convenient and personalised way to get around, tapping into the power of their mobile device.
We are connecting people to the transit network in cities such as London, where commuters use contactless payments to travel across the Transport for London (TfL) network over one million times a day.
It takes collaboration between partners across industries and sectors to unlock the full potential of today’s technologies and to realize the vision of smarter cities that are truly serving their citizens.
What are the biggest challenges facing the city you live in?