At a ceremony held at the historic City Hall, Vice Chairman Bui Xuan Cuong welcomed Mastercard executives including Timothy Murphy, Vice Chair; Safdar Khan, Division President for Southeast Asia; and Sharad Jain, Country Manager for Vietnam, Laos, and Cambodia. The event highlighted Mastercard’s long-standing collaboration with the city in expanding digital and contactless payment solutions.
The meeting between Mastercard’s delegation and HCMC People’s Committee
Over recent years, Ho Chi Minh City has become one of the first municipalities in Vietnam to adopt open-loop payment systems across multiple modes of public transport, from metro and bus services to waterbuses. These systems allow commuters to pay fares directly using contactless methods such as credit and debit cards or mobile wallets.
In December 2024, Mastercard partnered with the Ho Chi Minh City Urban Railway Company Limited No. 1 (HURC1) to launch contactless payments on Metro Line No. 1, which runs from Ben Thanh to Suoi Tien. The initiative was extended to the city’s bus network in April 2025, a move that has made commuting more convenient while supporting the city’s vision of becoming a smart, cashless urban hub.
Vice Chairman Cuong praised Mastercard for its pioneering role in advancing digital payments, stressing the importance of such solutions in modernizing infrastructure and enhancing financial inclusion. He noted that the city aims to expand cashless systems further across its transit network and looks forward to continued cooperation with Mastercard.
Safdar Khan of Mastercard reaffirmed the company’s long-term commitment to Vietnam, noting that the firm has supported the country’s digital agenda for nearly two decades. "This recognition reflects the strong collaboration we have built with Ho Chi Minh City to advance smart, inclusive, and sustainable transport solutions," he said.
Looking ahead, Mastercard said it will continue working with government bodies, local partners, and other stakeholders to promote financial inclusion and expand digital payment adoption across Vietnam’s economy.
