OREANDA-NEWS. September 12, 2012. The Bank of Moscow in cooperation with the Moscow Underground and the State Unitary Enterprise Mosgortrans has offered its clients a new bank card providing an opportunity to pay fare not only in the underground but also in the ground public transport of Moscow. The Bank’s new product has been called "My Travel Pass".

The new product is a further development of the Bank’s cards with the CFP (cashless fare payment) function. The Bank of Moscow was one of the first issuers of cards having such a function. And now My Travel Pass card allows to pay fare not only in the underground but also in buses, trolleybuses and trams. Thus a client of the Bank of Moscow can reach practically any point in Moscow without standing in ticket window queues.

The new card has a number of advantages versus classical travel passes: no duration limit, no number of trips limit, cheaper fares (the more often the card is used to pay fare the cheaper each ride), opportunity to pay in shops, service outlets and the Internet. To use the card it is enough to maintain the positive balance on the card or repay any arising debt in a timely manner; the card account is debited automatically once a month in favour of each transport operator.

The "My Travel Pass" card is provided to clients in the Moscow region: the payroll clients can have a debit card while other clients can have a credit card subject to the conditions in force at the Bank.

"We are broadening the functions of our cards making a traditional plastic card a versatile travel pass," commented Natalia Konovalova, Vice President, Director of the Retail Product Department of the Bank of Moscow. "Our new cards that, inter alia, have standard bank functions that allow to pay in shops and service outlets. The new card will be issued within the framework of the payroll projects but any client may apply if need be for a credit, not a debit, card format".