Mastercard is collaborating with local taxi hiring app HKTaxi to enable secure in-app payments over HKTaxi's platform for Mastercard cardholders.
The new service uses Mastercard's global payments processing network to allow cardholders to conveniently handle digital payment over the app, while protecting taxi drivers from potential safety risk including theft of cash or receiving counterfeit banknotes.
The initiative forms part of Mastercard's mission to support the development of seamless transport systems across cities as populations worldwide move from rural to urban areas, according to Mastercard SVP of digital payments and labs Benjamin Gilbey.
“Approximately 65% of all urban transportation is still paid in cash globally which slows down consumers in their daily commutes. In response, Mastercard is working to create cashless solutions that empowers consumers to get on their way in the easiest and most convenient manner,” he said.
“As cities move towards transforming into smart cities, the vision is to continue to build innovative solutions that will improve the quality of life for all segments of societies.”
The collaboration follows the recent collaboration between HKT and Jumbo Taxi to introduce QR Code payments on the Jumbo Taxi fleet.