Mastercard has collaborated with Transport for New South Wales, Australia through its Future Transport Digital Accelerator programme to co-develop digital solutions to ensure optimised transit in the city.

The partnership also involves CBA, Amazon Web Services, Optus and City Innovate Foundation.

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The collaborators aim to devise solutions to address transport challenges, including improved end-to-end consumer experience via integration of various mobility models and decreased friction for residents and visitors.

Mastercard Australasia division president Richard Wormald said: “We are already working with more than 100 cities – including London, Singapore and Vancouver – to enable a seamless commute.

“We are truly excited to partner with Transport for New South Wales to leverage our insights, technology and expertise to co-create solutions that improve lives for residents and visitors.”

The deal comes after completion of Mastercard contactless payments pilot on the F1 Manly Ferry and launch of contactless transit payments across all Sydney Ferries and light rail services.

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As part of the pilot, Mastercard and Transport for New South Wales worked together on smooth roll out of the technology, which enabled more than 15,000 tap-and-go fare payments for cardholders from more than 40 countries.

Wormald added: “For Mastercard, the concept of ‘smart cities’ is not an end in itself, but a means towards improving the quality of life for all segments of society.

“Through our global standards, digital technologies, data insights and expertise, we will work with Transport for New South Wales to drive inclusive and sustainable urban growth.”