Promoting digital economy, opening up new opportunities for businesses

Mr. Bui Xuan Cuong, Vice Chairman of the City People's Committee, had a meeting and worked with Mr. Timothy Murphy - Vice President of Mastercard, Mr. Safdar Khan - President of Southeast Asia of Mastercard, Mr. Sharad Jain - Country Director of Mastercard in Vietnam, Laos and Cambodia.

Over the past time, Mastercard has continuously contributed to the digital transformation process of Ho Chi Minh City, helping the city become one of the first localities in Vietnam to deploy an open-loop payment system on many public transport means - from metro, bus to river bus. This system allows people to use a variety of contactless payment methods such as credit cards, debit cards or e-wallets to pay directly for trips.

The event took place at the hall of Ho Chi Minh City People's Committee.

Over the past year, Mastercard has worked closely with Urban Railway Company No. 1 (HURC1) to successfully deploy a contactless payment solution on Metro Line No. 1 (Ben Thanh - Suoi Tien) in December 2024. Following this success, in April 2025, the open-loop payment system was widely applied on the city's bus network. These initiatives not only make the travel of millions of people more convenient, safe and comprehensive, but also strongly promote the application of digital payments in Ho Chi Minh City, contributing to the realization of the vision of building the city into a leading smart, cashless city in the region.

Ho Chi Minh City leaders highly appreciated Mastercard's contributions to the city in particular and the country in general, recognizing the importance of these solutions as a significant step forward in modernizing transport infrastructure, promoting financial inclusion and in line with the country's digital economic development orientation.

Vice Chairman of the Ho Chi Minh City People's Committee Bui Xuan Cuong acknowledged Mastercard's pioneering contributions to the city's digital transformation journey, especially in the field of public transport. Mr. Bui Xuan Cuong emphasized that Ho Chi Minh City is prioritizing the implementation of cashless payments on the metro and bus systems, with the goal of expanding in the future; at the same time, he hopes Mastercard will continue to accompany him so that the service usage process is seamless and convenient for the people and the government.

“For nearly two decades, Mastercard has been working with Vietnam to promote the national digital transformation program, encourage cashless and digital payments, deploy contactless payment solutions in transportation, and enhance financial inclusion and digitalization so that all Vietnamese people can participate and benefit from the digital economy,” said Safdar Khan, President of Mastercard Southeast Asia.

The meeting affirmed the strong relationship that Mastercard has built with the city in the process of cooperating to deploy smart, comprehensive and sustainable public transport solutions. With the support and close cooperation with the City People's Committee and local partners, Mastercard is committed to bringing practical benefits to the people of Ho Chi Minh City, demonstrated by making the travel process more convenient and safer, promoting comprehensive digital transformation and contributing to the vision of building a modern, comprehensive and sustainable economy for the city as well as the whole country."

Going forward, Mastercard is committed to continuing to work closely with the Vietnamese government , local partners and the broader ecosystem to promote digital innovation and financial inclusion, thereby opening up new opportunities in the digital economy for both individuals and businesses in Vietnam.

Ngoc Minh

Source: https://doanhnghiepvn.vn/kinh-te/thuc-day-kinh-te-so-mo-ra-co-hoi-moi-cho-doanh-nghiep/20250910041909938