Mastercard has created an alliance to mobilize financing to help upgrade transit systems around the world. As the inaugural partner, Meridiam will help finance digital ticketing infrastructure in North America.
By bringing together Meridiam’s experience in financing and developing public infrastructure projects with Mastercard’s global expertise in digital technology, the alliance will be able to help transit agencies implement smart payment systems and lay the foundation for mobility-as-a-service (MaaS). Over the coming months, Mastercard and Meridiam will identify key cities that are looking to transform their urban mobility systems.
As a part of Mastercard’s City Possible initiative, this global program unlocks capital to introduce more efficient ways for residents and visitors to access public transport through technologies such as contactless payments.
Through City Possible, a partnership and co-creation framework launched last year, city leaders identified access to capital to improve critical infrastructure as one of their biggest concerns.
Miguel Gamino, executive vice-president for enterprise partnerships and head of global cities at Mastercard, said: This program highlights how even resource-constrained municipalities can benefit from working with the private sector to make the digital economy work for everyone, everywhere.”
“We are thrilled to work with Mastercard in bringing modern transport infrastructure to more cities to accelerate the deployment of cutting-edge, technology-enabled infrastructure that is more environmentally friendly and resilient,” said Thierry Deau, chief executive officer at Meridiam. “With this initiative, Meridiam will contribute to the development, financing and management of sustainable urban transport infrastructure, improving mobility experiences and unlocking significant savings for cities.”
Meanwhile, Meridiam and the Volkswagen Group have signed an agreement for the development of electric vehicle charging stations in France.
The scheme proposed to local authorities responds to a detailed analysis of the need for charging stations according to different criteria, coupled with an innovative and neutral financing method for the local authority. A first project is being evaluated by a regional metropolis.
Julien Touati, executive director of development and energy transition at Meridiam, said: "Mobility is at the heart of Meridiam's strategy, which is now one of the largest investors and developers of infrastructure projects in the world.
“As a committed player in terms of positive impact, Meridiam has made electric mobility a strategic axis of its development in the service of territories. We are delighted with this partnership, which allows us to support the profound transformation of the automotive sector alongside Volkswagen France.”
Meridiam operates, through Allego, more than 12,000 charging terminals for electric vehicles in Belgium, the Netherlands, Luxembourg and Germany.