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Marqeta Brings Modern Card Issuing to Transit Vertical, Partnering With Mastercard Prepaid Managed Services (MPMS) to Enable Seamless Payment Experiences for Transport for NSW
Marqeta selected by MPMS as partner of choice to allow Transport for NSW the flexibility to offer digital-first payment solutions for consumers MELBOURNE,
About this update from Marqeta, Inc.
[{"type":"text","content":"\nMarqeta selected by MPMS as partner of choice to allow Transport for NSW the flexibility to offer digital-first payment solutions for consumers\n\n MELBOURNE, Australia--(BUSINESS WIRE)--\nMarqeta (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.\n\nIn 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.\n\n“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.\n\nThis 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 centra...