Bank of Maldives (BML) in collaboration with MasterCard will reportedly introduce transit exclusive cards for utilization in Raajje Transport Link (RTL).
For this purpose, BML had entered into a strategic partnership with Maldives Transport and Contracting Company (MTCC).
According to the national bank of the island nation the new payment system will be integrated into all other payment networks accepted or identified by BML.
BML will be introducing an open-loop technology that will allow customers to utilize a singular transit card with cash top-up features without the requirement of additional digital infrastructure.
Moreover, the open-loop technology will relay passenger information to relevant transport authorities in real time.