Type to search

News Paytech

Marqeta Partners With Mastercard Prepaid Managed Services (MPMS) to Enable Seamless Payment Experiences for Transport for NSW

Marqeta Partners With Mastercard Prepaid Managed Services (MPMS) to Enable Seamless Payment Experiences for Transport for NSW | Fintech Finance

Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced an innovative new transport partnership. Marqeta was named as the payment processor of choice for Opal Plus, the new transit program for Transport for NSW (TfNSW), in partnership with Mastercard Prepaid Managed Services (MPMS). The New South Wales government is introducing Opal Plus, a Mobility as a Service app within the Opal system, which allows subscribers to plan, book and pay for a tailored commuter experience directly from their mobile devices.

In June 2022, the New South Wales government announced its commitment to upgrade TfNSW’s Opal card system by investing approximately $AU 568 million, which will aim to enable faster and more convenient transportation across the state. As one of these initiatives, the Opal Plus app will initially run as a trial for 12 months for a select 10,000 people and will streamline services like rideshare, e-bike and scooter rentals, taxis and parking. Building on MPMS and Marqeta’s partnership, customers will be able to bundle and pay for public and private transport services and plan their journey across multiple transport options, all in one app.

“Consumer expectations for their transportation providers are rising and Transport for New South Wales wants to revolutionize the way we travel in New South Wales, by providing consumers with end-to-end journey management. With Marqeta’s modern card issuing and processing platform, along with their partnership with MPMS, we now have more flexibility to offer new, innovative transit solutions that have the end-consumer in mind,” said Kurt Brisset, Executive Director of Transport at NSW.

This partnership is one of Marqeta’s first in the transit vertical, showing the flexibility of its modern card issuing platform and ability to support innovative new use cases. Leveraging Mastercard’s processing network, Marqeta will help TfNSW expand its transit program beyond its public transport network into other transit providers. Customers will be able to tap on and off with their phone or smartwatch using their digital wallet which is linked to their Transport Connect account, the central hub that allows users to access rewards and link their Opal cards to view contactless payment activity.

“We’re entering a new era of transportation, one that’s been affected by COVID-19 and the massive digital transformation in payments,” said Anita Yarrow, Vice President at MPMS. “Our partnership with Marqeta combines Mastercard’s established network relationships with Marqeta’s innovative platform and brings them to consumers across New South Wales. We’ve seen the power of modern card issuing and how it brings new, flexible innovations to market faster, and we’re excited to do the same in the transit vertical for TfNSW.”

“As one of the TfNSW’s partners in this launch of Opal Plus, Marqeta has the platform scalability to help bring digital-first payments solutions to millions of transit users in the region,” said Duncan Currie, Country Manager of Australia and New Zealand at Marqeta. “Marqeta’s deep expertise in card issuing and processing will be instrumental in helping TfNSW successfully launch this innovative new program.”

Tags:

People in this post:

Companies in this post:

Next Up