Gemalto is providing South Africa financial institution Standard Bank with a multifunction EMV contactless payment card enabling users to pay for transit fares and other goods and services with one digital wallet.
Standard Bank customers can use the MasterCard debit card to wave and pay directly at the gates in the public transport stations, without needing to carry cash or a separate travel card. The “Muvo” card initiative will provide cardholders convenience and reduce cash management on public transportation in the city of Durban.
Eliminating the need for cash on public buses enhances security, while reducing queuing and disruption to travel schedules, as travelers and staff no longer have to fumble for change. Furthermore, commuters can load funds into their cards at around 30 sales points throughout the city.
The partnership has already resulted in the provision of more than 100,000 cards for the Ethekwini Municipality, which is looking to improve ticketless payments for its public transport system in the coastal city of Durban.