Mastercard to transform Cyberjaya into a cashless hub

Fintech Innovation editors
Fintech Innovation

Mastercard, Cyberview and the Malaysian Global Innovation & Creativity Centre (MaGIC) have entered a collaboration to transform Cyberjaya, a technology hub in Malaysia, with a focus on cashless initiatives.

Mastercard will be providing its global expertise in innovative payment technology and network to increase the digitalization of payments, an initiative which is in line with Cyberjaya’s aim to become a cashless society.

Mastercard will embark on a pilot program to test several smart city applications beginning Q3 2017. This also entails a partnership with internationally-renowned player in the smart city scene, Masabi, a global leader in mobile ticketing and innovative fare collection for transportation based in London to implement quality innovations that will benefit the Cyberjaya community.

The pilots will first focus on the transportation as well as food and beverage (F&B) sector with more sectors to be included in phases. Cyberjaya will be the starting point and benchmark of this cashless society development, as part of larger plans to replicate these concepts into other Smart Cities throughout Malaysia, in the future.

The pilot program include: introduction of the Masterpass QR solution to allow consumers to  pay for goods and services from their mobile phones by utilizing a QR code without the need of a point of sale terminal, a mobile ticketing application with Masabi, a bike-sharing platform based on GPS trackers and AI chatbots for retail applications.

“E-payments are at the center of a city’s economic vitality and its integration is crucial to promote a smarter, more sustainable and inclusive space for residents, commuters and local businesses,” Mastercard country manager for Malaysia and Brunei Perry Ong said.

“We will work towards enhancing Cyberjaya’s payment ecosystem with a comprehensive suite of simple, safe and smart digital solutions. The implementation will cover various sectors in Cyberjaya such as urban mobility, lifestyle, finance, health, supply chain and education sectors to help the community to go cashless. This initiative is in line with the government and Bank Negara Malaysia’s vision to transform Malaysia into a digital economy and cashless society.”


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