Article Highlights
Commonwealth Bank of Australia, the acquirer and processor for the open-loop payments service rolled out by Transport for New South Wales in Sydney, is keen on expanding its business to other open-loop payments services as well as payments for MaaS services.
Since 2018, officials said recently that the Sydney open-loop service has racked up transactions for more than 20 million trips–though Transport for New South Wales said in January 2020 there had been more than 30 million trips paid for with bank cards since the first trial on Sydney’s Manly Ferry in 2017.
• Commonwealth Bank of Australia
• Transport for New South Wales
• Adelaide Metro
Commonwealth Bank of Australia, the acquirer and processor for the open-loop payments service rolled out by Transport for New South Wales in Sydney, says it is negotiating with transit officials in other Australian states to help launch similar payments services. It also hopes to be involved in payments for mobility-as-a-service platforms.
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