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Mastercard is part of changing Malaysian city Cyberjaya to a cashless city

Tuesday 6 June 2017 | 11:33 CET | Background
As part of Cyberjaya’s aim to be a smart city, it is working towards becoming a cashless city. Four new pilots announced recently by Mastercard and various partners aim to facilitate the cashless city.

 
Cyberjaya is a city in Malaysia with around 40,000 inhabitants but a place where around 120,000 people work. Its science park is the core of the newly built town, and it forms part of the Multimedia Super Corridor in Malaysia. It aims to be known as the Silicon Valley of Malaysia.

At the Smart City Expo in Barcelona in 2016 Mastercard signed a MoU with two Malyasian companies active in Cyberjaya, Cyberview and Malaysian Global Innovation & Creativity Centre (MaGIC). Cyberview and MaGIC announced at the celebration of Cyberjaya’s 20th anniversary at the end of May that they will launch the Futurise Centre, which will become a hub for corporations, universities and entrepreneurs to develop future innovations. At the same time Mastercard announced various updates of the MoU, to celebrate Cyberjaya’s 20 years of existence.

To emphasise Mastercard’s commitment to help transform Cyberjaya into a cashless smart city, Mastercard announced four pilots to start in Q3 2017. All four pilots three are directly related to mobile payments. 

Four new pilots involving mobile payments

The first one is the introduction of Masterpass QR, allowing consumers to pay for goods and services from the mobile phone by using a QR code. Using QR codes means there is no need for a PoS terminal and is mostly aimed at smaller merchants, such as foods stalls or coffee shops. 

The second pilot concerns mobile ticketing for buses. This pilot is carried out in partnership with Masabi, a London based mobile ticketing solutions provider. Masabi’s JustRide mobile ticketing system enables anyone to use an app to buy tickets, as the mobile phone serves as both the vending machine and the ticket. The JustRide system is already used by public transport providers in New York, London, Boston and Athens. 

The third pilot deals with a new bike-sharing platform, using smart bicycles with a GPS tracker. Users can pay via a mobile app on their smartphones. The fourth pilot uses AI (artificial intelligence) chatbots for ordering take-away food from restaurants. The chatbots will offer a one-click checkout experience using Masterpass. 

According to Cyberview the combination of IoT applications and FinTech solutions will help Cyberjaya to become a truly smart city. Cyberview facilitates the smart infrastructure with its LoRa network. The smart infrastructure gives the various start-ups working in Cyberjaya the possibility to test their solutions before launching commercially.  

Next to the pilots involving Mastercard, other mobile financial solutions are being worked on such as Billplz which provides software for merchants, helping them with e.g. eTicketing and eCommerce. Currenseek is an app helping travelers to save time and money exchanging currency while Primekeeper focuses on developing micro mobile payment services.



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