Mastercard and LMK Resources Pakistan (Private) Limited (LMKR) have formalized a strategic partnership to oversee the implementation of the country’s first open-loop transit payment solution in a bid to further accelerate Pakistan’s digital transformation.
The solution can be implemented through the country’s entire transit infrastructure, including rapid transit bus networks and e-tolling systems. The collaboration will allow commuters to top up and pay for transit fares through their debit and credit cards or digital wallets without the need to buy separate tickets.
Affordable and accessible public transport systems is a crucial enabler of socio-economic development in Pakistan. Transport providers traditionally rely solely on cash or closed-loop payments such as fare cards, which hold only a prepaid amount that must be replenished when it runs out. Open-loop payments are connected to existing accounts and everyday payment solutions such as digital wallets, credit and debit cards, saving travelers time and effort.