Implementing cashless payment technology (Open Loop) on buses.

Now, residents and tourists can use a variety of payment methods such as credit cards, debit cards, EMV prepaid cards, e-wallets, and smart devices to travel by bus in Ho Chi Minh City. Simultaneously, the Ho Chi Minh City Department of Transport, Mastercard, and Sacombank have launched the Sacombank Mastercard MultiPass – an interoperable payment card for public transport vehicles equipped with POS machines.

Following successful trials, the Open Loop cashless payment system has been installed on several key bus routes and is being expanded to over 500 buses in Ho Chi Minh City. This is a significant step in modernizing the public transportation system, aligning with the smart city development orientation and the directives of the Ho Chi Minh City People's Committee in Official Letter No. 2988/UBND-DA dated May 28, 2024.

Launch ceremony for the Open Loop payment system and Sacombank Mastercard MultiPass card.

Ho Chi Minh City is one of the pioneering cities in Vietnam to apply the Open Loop payment system. With this model, passengers can use various payment methods, including domestic and international payment cards; e-wallets; and smart payment methods such as Apple Pay and Google Pay. This system not only provides more payment options but also expands access to public transportation for all, especially international tourists, foreigners living and working in Ho Chi Minh City, as well as local residents already familiar with e-wallets and digital payment methods.

The implementation of the Open Loop payment model not only brings convenience to citizens but also contributes to the national digital transformation goal. For society, this model helps reduce traffic congestion, encourages people to use public transportation instead of private vehicles, and contributes to environmental protection by reducing emissions and fuel consumption. Furthermore, the socialization of operating costs through the participation of technology partners, banks, and payment technology providers helps to better serve the community, improve accessibility for all citizens, enhance operational efficiency, reduce the burden on the state budget, and increase transparency in public transportation management.

Alongside the Open Loop payment system on buses, the Ho Chi Minh City Department of Transport and Public Works also launched the MultiGO application – a smart transportation platform integrating essential utilities within a digital ecosystem.

With MultiGO, users can look up routes and travel times for all public transport options and other public transport information; purchase public transport tickets on the app; and issue Sacombank Mastercard MultiPass cards directly on the app, allowing payment for transport services and daily utilities right within the app, providing a modern, convenient, and cashless travel experience for people.

The Sacombank Mastercard MultiPass card, issued by the Ho Chi Minh City Department of Transport and Public Works, Sacombank, and Mastercard, is an integrated payment card for public transport with POS machines. Designed specifically for frequent commuters such as students, working professionals, etc., the card offers special benefits and discounts to encourage the use of public transport, such as a flat bus fare of 5,000 VND, a flat metro fare of 10,000 VND, and a direct 5% discount on multi-trip ticket payments.

Ngan Phuong

Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/trien-khai-thanh-toan-khong-tien-mat-cong-nghe-open-loop-tren-xe-buyt/20250411045104987