MasterCard signs MoU with Gujarat for electronic payments

MasterCard has signed a memorandum of understanding with Gujarat to facilitate the adoption of electronic payment processes.

MasterCard has signed a memorandum of understanding (MoU) with the Indian state government of Gujarat to facilitate the adoption of electronic payment processes in government departments, businesses and transit and tourism industry.

The state government and MasterCard will collaborate to digitize and streamline the procurement payment process in various departments, municipalities and various state public sector undertakings (PSUs).

Under the agreement, MasterCrad will seek to improve the public transportation system by creating a common transit card for travellers using the metro, and all state and city buses besides developing a mobile-based solution for the transfer of government benefits to beneficiaries.

MasterCard division president of South Asia Ari Sarker said: “This MoU represents a joint effort to drive innovation and development of electronics payments in Gujarat, in line with the State Government’s goal to make Gujarat the first digital payments state in India.”