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Bogotá, February 11, 2015 – Recaudo Bogotá S.A.S, Bancolombia and MasterCard have announced the inclusion of electronic payments to promote and facilitate access to Bogotá’s Integrated Public Transit System (SITP). To this end, Bancolombia is integrating a transit component in its Maestro debit cards for use as a means of payment on the SITP blue buses and TransMilenio Phase III articulated buses.
“After months of working together to unify the technologies, today electronic payment integration is a reality that will undoubtedly contribute to the city’s mobility with an efficient and flexible Integrated Public Transit System. This initiative proves our commitment to continue offering innovative systems and the best technology to simplify the use of the integrated transit system of the city of Bogotá,” explained Recaudo Bogotá CEO Javier Cancela.
The integration process and the operation between Bancolombia and Recaudo Bogotá are now seamless, thanks to chip and contactless technology, and meets the city’s mobility growing needs. With the support and the technology of MasterCard, Bancolombia debit card was designed. It contains two applications within the same chip, one for payments at merchants and banking transactions, and “tullave” for the SITP payment.
“This integration initiates the transformation of the country’s public transit system. The implementation of electronic payments will make the transit systems more convenient and efficient, with better entry control, reducing the irregularities that have limited its growth and expansion,” said MasterCard Colombia and Ecuador President Marcela Carrasco.
Now cardholders will be able to go to Bancolombia and request their Maestro debit card in order to have a single product that will allow them access to the Integrated Public Transit System and make bank transactions. This form of electronic payment is a convenient, secure and reliable solution, which also facilitates orderly and rapid access to the system. The latest-generation contactless technology is the same as the SITP’s current “tullave” card, which is now expanded through this alliance.
“In addition to incorporating the functionalities of the transit and financial systems, this card offers our customers the ability to access payment without replenishing. Thus, you will be able to enter the transit system without the need to replenish the card at points of sale, since your fares will be deducted from your savings account in a process after use,” says Bancolombia Payments Vice President Liliana Vásquez, who adds that “the purpose is to strengthen plastic, making it a more complete customer tool, reducing queues and offering payment solutions at any commercial establishment authorized by MasterCard.”
Users who switch to this system do not need to replenish the card, since their fares will be debited directly from the cardholder’s savings account, and they may use it at all points that accept “tullave,” the current SITP card. For now, this means 6,500 SITP and TransMilenio Phase III buses may be accessed with these cards, but it is hoped that by early 2016, when Recaudo Bogotá is established as the sole operator of the entire SITP, the benefits will be expanded to the whole system.
About MasterCard MasterCard (NYSE: MA), www.mastercard.com,is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
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