Marqeta (NASDAQ: MQ)has been selected as the payment processor for Opal Plus, the new transit program for Transport for NSW (TfNSW). The New South Wales (NSW) transit program is being offered in partnership with Mastercard Prepaid Managed Services (MPMS). The NSW government is introducing Opal Plus, a Mobility as a Service app that allows users to plan, book and pay directly from their mobile devices.
The Opal Plus app will initially run as a trial for 12 months for 10,000 people and will operate with services like rideshare, e-bike and scooter rentals, taxis and parking.
Kurt Brisset, Executive Director of Transport at NSW, said that consumer expectations for transport providers is rising and NSW wants to “revolutionize the way we travel in New South Wales.”
“With Marqeta’s modern card issuing and processing platform, along with their partnership with MPMS, we now have more flexibility to offer new, innovative transit solutions that have the end-consumer in mind.”
This partnership is one of Marqeta’s first in the transit vertical. Marqeta will help TfNSW expand its transit program beyond its public transport network into other transit providers.
“We’re entering a new era of transportation, one that’s been affected by COVID-19 and the massive digital transformation in payments,” said Anita Yarrow, Vice President at MPMS. “Our partnership with Marqeta combines Mastercard’s established network relationships with Marqeta’s innovative platform and brings them to consumers across New South Wales. We’ve seen the power of modern card issuing and how it brings new, flexible innovations to market faster, and we’re excited to do the same in the transit vertical for TfNSW.”