MasterCard and Masabi Set Commuters Free From Cash

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MasterCard (NYSE:MA) today announced a global partnership with Masabi, the leader in mobile ticketing for transit, that will set commuters and visitors free from scrambling for cash when buying tickets for the subway or bus. By combining MasterCard’s payment technology with Masabi’s JustRide mobile ticketing platform consumers will experience a faster and more convenient way to get around a city’s transit system.

The first city to benefit from this alliance will be Athens, where passengers of the Greek capital’s transit systems are now able to use an innovative mobile solution to pay their fare. By using Masabi’s end-to-end JustRide system, 1 million daily customers can purchase and display tickets for immediate and future travel through their smart-phone, saving time and hassle. JustRide also includes validation software allowing tickets to be scanned using standard smart-phones or using gates or stand-alone validation units.

“Given that already today more than 50% of us live in urban areas this trend brings significant challenges such as crowding and congestion to cities,” said Hany Fam, President MasterCard Enterprise Partnerships. “By combining our expertise, MasterCard and Masabi are removing the friction that slows down how people move around, while also improving quality of life in cities and helping authorities to better manage population growth and urban development.”

Masabi is active in a number of cities including New York, London and San Diego. It first deployed JustRide with Boston’s MBTA in November 2012 and has been running mobile ticketing for UK Rail since 2007. As part of today’s announcement, Masabi will integrate MasterPass, MasterCard’s secure digital payment service, into JustRide, enabling consumers to pay for their ticket with a simple touch.

“Mobile ticketing is all about making life easier for transit riders, and making payment as simple as possible is central to this experience” said Brian Zanghi, CEO of Masabi. “By transforming smart-phones into vending machines, tickets can be purchased any time, any place making waiting in line a thing of the past. Athens is our first deployment working with MasterCard, and we look forward to working together to enable mobile ticketing and payments in other cities around the globe.”

About MasterCard 

MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.

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About MasterCard Enterprise Partnerships

The MasterCard Enterprise Partnerships team has been formed to bring MasterCard’s existing assets, technology, network, reach, products and solutions to bear in areas that are outside MasterCard’s traditional domain. We are partnering with global market leaders who have significant depth of experience in their industries, combining their knowledge and infrastructure with our assets in order to drive real enterprise value.

About Masabi 

Masabi, is the leader in transit mobile ticketing and payments, delivering end-to-end fare payment systems that deliver significant cost savings while revolutionizing the customer experience. Masabi’s JustRide system signals the end of ticket lines, lost tickets and fumbling for cash by allowing passengers to quickly and securely buy and display tickets on their mobile phones. Masabi enables transit agencies to move away from traditional, capital intensive “locked-in” systems, such as smartcards and costly customized ticket machines, to a flexible, open system that transforms passengers’ travel experience today, with a roadmap to NFC and open payments in the future. Masabi is backed by Fontinalis Partners, m8 Capital and MMC Ventures.

The company’s scalable cloud-based technology already processes more than 110 million dollars per year, handles millions of connections per day, and is working with 22 global transit agencies and retail brands, including: Virgin Trains, First Group, Boston’s MBTA, San Diego MTS as well as recently winning the contract to deliver mobile ticketing for New York’s MTA. Masabi has offices in New York, Boston, and London.