The announcement ceremony of a project expanding the payment system on bus in HCM City. — VNS Photo Thu Ngân

HCM CITY — The EMV Open-Loop payment system, a payment system on city buses, will be expanded in HCM City, marking a new advancement in enhancing the passenger experience in public transportation.

The plan to expand the system was announced on Monday in HCM City by Vietnam Thương Tín Commercial Joint Stock Bank (Vietbank) in collaboration with Vidiva Technology Joint Stock Company and Mastercard.

The EMV Open-Loop payment system allows passengers to use existing payment methods such as bank cards or e-wallets to pay for bus fares without the need for cash and separate specifically designed cards or tickets for the bus system as before.

This new payment method meets the needs of both residents and tourists using public bus services in HCM City and has been widely implemented in many countries like the UK, Singapore, Australia and the US.

Vietbank and Vidiva are actively implementing this new payment system on select bus routes, focusing on routes with high student traffic. The new payment system is expected to be in operation in the next three months for 200 buses.

In the initial phase of the project, passengers can pay for bus fares using the Mastercard virtual card on Ting e-wallet. In the expanded phase, all Mastercard cards issued by banks in the market and overseas will be accepted.

With the permission of the HCM City People’s Committee, Vietbank since 2019 has conducted a pilot project for automated payment in public bus transportation. The bank has partnered with Vidiva Technology Joint Stock Company and Mastercard to transform the bus commuting experience for city residents.

The project will continue to be implemented without using State funds. The participating parties expect that the project will attract passengers to use public transport, hence reducing traffic congestion and accidents in the city. The deployment will continue to be a foundation for the city to collect relevant data and complete its processes and technical framework of a common smart card ticketing system for the entire city.

Currently, HCM City’s bus system consists of 129 routes including 91 subsidised routes and 38 non-subsidised routes. About 2,019 buses are in operation.

The bus service employs over 3,500 drivers and staff, conducting nearly 13,000 trips per day and serving an average of nearly 300,000 passengers per day.

In the future, the city’s bus system will continue to be developed and expanded in terms of quantity and quality to better service the transportation needs of local residents.

For 2025, the goal of the city is to synchronise electronic payment systems across all bus transportation. — VNS