Transit Protocol and China Transport Union Sign Strategic Partnership Agreement for Southeast Asia Market

[Jakarta, Indonesia, Nov 6, 2019] Transit Protocol Holdings Pte Ltd and China Transport Union Co., Ltd. announce the signing of strategic partnership to market China Transport Union’s “China T-Union” transport payment platform in Southeast Asia at the “China T-Union Belt Road Initiative Symposium 2019” hosted at Mercure Jakarta Gatot Subroto. This new partnership grants Transit Protocol Holdings exclusive rights to issue China T-Union products, acquire and clear transactions for the China T-Union platform in the major markets of Southeast Asia.
The partnership is a win-win for both parties as it would allows each party to focus on their core competence and leverage on the other party’s strength for a fast go-to-market strategy execution. Transit Protocol Holdings and its associate companies operate one of the biggest public transport payment company in China, covering over 87 cities and serving a population base of over 87 million people. The company is in the process of transitioning the existing software platform to a blockchain core platform to provide urban commuters with a seamless commuting experience. China Transport Union operates the China T-Union platform, a common ticketing system that allows users to pay for public transport fares in any of the covered service, including buses, metro, bicycle, taxi and ferry services. The service is now live in 288 cities and forecasted to cover 370 cities by end of 2020.

“Today marks another important milestone for our company.” Said Francis Ong, Chairman of Transit Protocol Holdings Pte Ltd. “The partnership with China Transport Union provides us with a superb platform in terms of product offering and market reach. Our payment partners in Southeast Asia will be able to issue China T-Union cards that allow their users to immediately tap into their vast network in China, while at the same time provide new market reach China T-Union outside of China. We are truly excited to be partnering with China Transport Union in the development of the transport payment market in Southeast Asia”
“This partnership is a strategic win for China T-Union, as we continues to build up our network of transportation service providers,” said Mdm Liu Tie Xia, the President of China Transport Union Co., Ltd. “In September 2013, President Xi Jinping unveiled a grand vision to reawaken and extend the old Silk Road in the name of enhanced international trade, development and cooperation in his speech to the Indonesian parliament in 2013. It is thus fitting that the expansion China Ministry of Transport’s China T-Union platform under the Belt Road Initiative should launch in Jakarta in 2019. We cannot be more delighted to be in Jakarta today to honour this historic moment in the development of the China T-Union platform.”

Under this strategic partnership, Transit Protocol Holdings and its group companies shall on China Transport Union’s behalf, issue China T-Union cards and related products to key payment partners and digital money issuers in the key markets of Indonesia, Singapore, Malaysia, Philippines, Thailand and Vietnam. The company will also at the same time acquire business for the inbound China T-Union card holders from China, and form a central clearing facility to clear those inbound transactions in the said key markets. This represents the first time that such transport payment is able to be interoperable and perform cross-boundary transactions.
About Transit Protocol Holdings Pte Ltd:
Transit Protocol Holdings Pte Ltd is a B2B2C mobility service platform headquartered in Singapore, with software R&D centres in Russia and Malaysia. The company is transforming mass transit to provide urban commuters with a seamless commuting experience everyday, bringing every mode of transport together into one single app that integrates transport options from different providers (such as buses and train), and handling the full experience from journey planning to payments and dynamic journey adjustments. Transit Protocol Holdings is founded by a group of experienced entrepreneurs with over 80 years of experience managing high tech business in Asia Pacific region.
About China Transport Union Co. Ltd.:
China Transport Union co., Ltd. is subsidiary of China Transport Communication and Information Center (CTTIC), an agency directly under the Ministry of Transport of the People’s Republic of China. The company operates the China T-Union platform, a common ticketing system that allows users to pay for public transport fares in any of the covered service, including buses, metro, bicycle, taxi and ferry services. The service is now live in 288 cities and forecasted to cover 370 cities by end of 2020. In accordance with the smart traffic vision of the Ministry of Transport, China T-Union supports the application of information technology in public transportation operation management, government supervision and industry services, to achieve inter-city and cross-modal interconnectivity, and hence provide consumers with convenient commuting journeys, contribute to building an efficient, safe and green integrated transportation system.
