Ho Chi Minh City People’s Committee Recognizes Mastercard for its Pioneering Contributions to Vietnam’s Public Transportation

Recently, in Ho Chi Minh City, Mr. Bui Xuan Cuong, Vice Chairman of the Ho Chi Minh City People’s Committee, welcomed Mr. Timothy Murphy, Vice Chair of Mastercard, as well as Mr. Safdar Khan, Division President, Southeast Asia, Mastercard, and Mr. Sharad Jain, Country Manager for Vietnam, Laos & Cambodia, Mastercard, in recognition of Mastercard’s significant contributions to the city’s digital transformation journey.

The meeting between Mastercard’s delegation and HCMC People’s Committee

This occasion marked an important milestone in Mastercard’s journey in Vietnam, celebrating a strong, longstanding collaboration that has enabled smarter, safer, and more inclusive digital payments solutions for everyone.

Mastercard has continuously contributed to Ho Chi Minh City’s digital transformation, making it one of the first cities in Vietnam to adopt open-loop payment systems across multiple modes of public transportation—from metro, bus to waterbus. These systems allow commuters to use a wide range of contactless payment methods, such as credit and debit cards or mobile wallets, to pay directly for rides.

Over the past year, Mastercard has worked closely with the Ho Chi Minh City Urban Railway Company Limited No. 1 (HURC1) to introduce contactless payments on Metro Line No. 1 (Ben Thanh – Suoi Tien route) in December 2024. Building on this success, this open loop payment system was expanded to the city’s bus network in April 2025. These initiatives have made daily commutes more convenient, secure, and inclusive for millions of commuters, and accelerated the adoption of digital payments throughout Ho Chi Minh City, contributing to the city’s vision of becoming a leading smart, cashless urban hub.

HCM City People’s Committee highly appreciated Mastercard’s contributions to the city in particular and to Vietnam as a whole. They recognized the importance of these solutions as a significant step toward modernizing transport infrastructure, enhancing financial inclusion, and aligning with the nation’s digital economy agenda.

Mr. Bui Xuan Cuong, Vice Chairman of the Ho Chi Minh City People’s Committee, received Mr. Timothy Murphy, Vice Chair of Mastercard, and the Mastercard delegation

Mr. Bui Xuan Cuong, Vice Chairman of the Ho Chi Minh City People’s Committee, commended Mastercard for its pioneering role in advancing the city’s digital transformation, particularly within the public transportation sector. He underscored that Ho Chi Minh City is prioritizing the adoption of cashless payment solutions across the metro and bus networks, with plans for broader expansion in the future. Mr. Cuong also expressed his expectation that Mastercard will continue to partner with the city to deliver seamless, convenient, and efficient service experiences for both residents and government stakeholders.

Mr. Safdar Khan, Division President, Southeast Asia, Mastercard, said: “For almost two decades, Mastercard has been committed to supporting Vietnam’s digital development agenda, promoting cashless and digital payments in Vietnam, enabling contactless payments for transit, and advancing financial and digital inclusion—so that every Vietnamese can participate in and benefit from the digital economy.

It is a true honor for Mastercard to be welcomed by the Ho Chi Minh City People’s Committee. This recognition reflects the strong collaboration Mastercard has built with the city as we work together to advance smart, inclusive, and sustainable public transport solutions. By working closely with the People’s Committee and local partners, Mastercard is committed to bringing real benefits to the people of Ho Chi Minh City—making everyday journeys more convenient and secure, advancing digital inclusion, and contributing to the city’s—and the country’s—vision of a modern, inclusive, and sustainable economy.”

Looking ahead, Mastercard remains dedicated to working closely with the Vietnamese government, local partners, and the broader ecosystem to further advance digital innovation and financial inclusion—unlocking new opportunities in the digital economy for individuals and businesses across Vietnam.

Source: Vietnam Business Forum