MasterCard is a multinational company deals with payments industry (www.mastercard.com). it runs the fastest payments processing system in the world, linking consumers, financial firms, traders, governments, and industries in over 210 countries and regions.
Mastercard has formed a strategic alliance with One Network, a Pakistani supplier of intelligent transportation technology, to digitise the country’s road toll payments network. The news was announced in the presence of Frontier Works Agency, Pakistan’s largest toll collecting agency, at the Pakistan Pavilion at Expo 2020 Dubai, where Mastercard is the Official Payment Technology Partner.
Mastercard and One Network’s Partnership For Digital Road Toll Payment System
Mastercard will incorporate its digital payment gateway infrastructure into One Network’s newly announced Apple and Android smartphone apps, allowing motorists to top up their M-Tag cards in advance from anywhere using their mobile phones. The newly created software will also allow drivers to evaluate their journey history and balance in real time.
Over 300 million cars commute and pay Toll Tax on Pakistan’s highways each year. M-Tag use RFID (radio-frequency identification) technology to deduct credit from commuters’ prepaid M-Tag accounts when they travel through RFID-enabled toll lanes.
Commuters may add credit whenever and wherever it is most convenient for them using the new application, thanks to the integration of Mastercard’s digital mobility payment solutions.
Mr. Kamal Azfar, CEO of Frontier Works Organization, offered his solidarity and highlighted the Organization’s commitment to making Pakistan’s highways free of congestion through cashless toll collection. The public adoption of digital payments for M-Tag usage in Pakistan will act as a broad economic facilitator, accelerating the movement of products, boosting tourism, and advancing financial inclusion.
The engagement, the latest in a string of strategic alliances that have solidified Mastercard’s position as a major enabler of digitalization in Pakistan, will also see Mastercard boost exposure and acceptance of the new application via numerous media channels.
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