Mastercard has been leading the payment industry for fifty years. We work every day to continue writing the history of innovation in this area, providing new pioneering security solutions and fighting to achieve a world without cash.
Innovation, as I mentioned before, is part of everything we do, not only in the innovation department itself, but we continually implement innovative processes, looking for new solutions that improve the lives of consumers around the world. For example, we recently presented a system through which we use solar panels to bring light to areas without electricity or create connected networks of mobile micro transactions for businesses, thus helping the international expansion of digital payment to areas that would otherwise not be possible to reach.
In addition, we are pioneers in projects that implement our ukraine phone number data data-based knowledge, advanced technologies and our global network to contribute to the construction of Smart Cities that are more sustainable and more inclusive. We are currently working in many cities around the world to make them efficient places by incorporating digital payments into their DNA, reducing their dependence on cash and increasing their digital engagement. In this sense, in many capitals such as London or Madrid we can see a clear example of this evolution.
Specifically, in the Spanish capital, thanks to the agreement reached with the Municipal Transport Company (EMT), contactless payment is now allowed on all bus lines in the network and a total of 2,100 validators have been installed on this means of public transport. With this system – which is just one example of the projects being developed by the company – travel time has been shortened, as user access and ticket payment are faster. Costs related to handling cash and issuing specific cards to recharge money or transport tickets have also been eliminated.