The HCM City Department of Transport and VISA, the world’s leader in digital payments, on August 7 signed a Memorandum of Understanding (MOU) to drive the development and adoption of digital payments in the area of transportation to achieve smart mobility in the city.
This MOU is in support of HCM City’s plans to become a smart city by 20172020, with a vision toward 2025. As part of this move, VISA and the department intend to collaborate to increase the acceptance of digital payments and roll out a secure open-loop payment system across all transportation networks.
The MOU positions VISA as the department’s preferred partner in developing digital payment solutions for the city and outlines a series of initiatives they will be focusing on.
These initiatives may include leveraging VISA’s feasibility study on the Transit Payment System in HCM City to help educate the relevant stakeholders and guide the future direction and policymaking of the transit and transit adjacent payments infrastructure and ecosystem.
VISA also intends to work with the department to explore opportunities to upgrade the legacy closed-loop payment system by adopting open-loop EMV contactless technology for all transportation networks.
The group will also share best practices with the department through knowledge-sharing workshops and a study tour to meet with transport authorities to share experiences in delivering smart mobility solutions.
Dang Tuyet Dung, VISA country manager for Vietnam and Laos, noted in a statement that VISA is committed to working with its clients, merchants, the government and partners such as the HCM City Department of Transport to drive the adoption of digital payments in Vietnam.
“We are looking forward to bringing our expertise on digital payments and urban mobility to this partnership in the hope that we can accelerate HCM City’s smart mobility plans, providing people with more secure, faster and more convenient ways to pay for their transport and everyday purchases,” Dung said.
https://english.thesaigontimes.vn/70428/hcmc-cooperates-with-visa-to-deliver-smart-mobility.html
