How can we get the general public familiar with digital money? In the Seychelles, where many people depend on public transport for school or work, an innovative scheme to take bus travel cashless is familiarizing citizens with digital infrastructure, and saving them time and money in the process.
As of 1st July 2023, bus passengers pay for their journeys exclusively through travel cards, which they can top up at multiple outlets. Previously, passengers paid with cash, leading to long ticket queues, safety risks for drivers, and inconvenience.
Thanks to the efficiencies of cashless travel, tickets are now cheaper than before. Budgeting for transport is also easier, as passengers can reload their cards at the start of each month.
The bus project is an important component in the Seychelles’ national drive to empower the public to adopt digital financial solutions.
“The Central Bank, together with the government, is working towards modernizing and digitalizing the economy to promote more efficient and reliable financial transactions,” explains Jonathan Valentin, Financial Inclusion Analyst at the Central Bank of Seychelles.
You can learn more in the video below.