01 April 2015

Visa and MasterCard aim for contactless transport

12 June 2007  |  9293 views  |  0 Contactless payment

Visa and MasterCard have unveiled seperate plans to install contactless payment technology in New York taxi cabs and at airport car parks.

Visa has teamed with New York-based taxi technology company Creative Mobile Technologies (CMT) to equip thousands of cabs in the city with its contactless payWave payment readers.

The new readers are able to accept both Visa payWave payments as well as traditional swipe transactions. Passengers are able to include a tip to the price of the fare and no signature is required for transactions under $25.

Last year eftpos vendor Verifone said it was installing MasterCard's contactless payments system PayPass across all taxis licensed by the Philadelphia Parking Authority (PPA). Passengers can pay their cab fare by tapping their PayPass-enabled card or device on a contactless reader attached to a VeriFone Omni 7000 payment system located in the back seat of the taxi.

The MasterCard technology is now being deployed at parking meters at select airports in the US under a deal inked with Affiliated Computer Services (ACS). PayPass readers are expected to be installed in four to six airport sites by the end of 2007 says ACS, although the meters will contiue to accept trandition mag-stripe payment cards as well.

Michael Huerta, MD of ACS Transportation Solutions, says: "Airport parking is an ideal setting for contactless payments because this technology streamlines a sometimes time-consuming activity for clients who frequently do not have time to spare."

Meanwhile in a separate move, UK start-up firm sQuidcard is reporting a deal with Bolton Council in North West England to incorporate its electronic purse technology into the Bolton Smart card, which is used to access leisure and library services.

Bolton residents will be able to load their smart cards with funds that can be used to pay for same value items at retailers displaying the sQuid logo.

Cliff Morris, council leader and executive member for corporate strategy and finance, says: "It's not a credit card, so people would not be running up a debt and can only spend the amount they have credited to it and if a card is lost it can be frozen."

Morris says future uses of the card could include a 'school purse' for lunches.

SQuid said last month that it was preparing to launch a low-fee alternative to the national contactless programme that would "never charge retailers more than 1.5% per transaction".

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

11 June, 2007
25 May, 2007
17 May, 2007
08 May, 2007
03 May, 2007
14 February, 2007
15 November, 2006
02 September, 2005

Related company news

Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Europe sets the pace as fintech investment...
6377 views comments | 29 tweets | 20 linkedin
UK online banking fraud losses soar 48%
5873 views comments | 16 tweets | 19 linkedin
Future Money Focus: Mariano Belinky, Santa...
5504 views comments | 12 tweets | 12 linkedin
Google preps Gmail bill payment feature
5163 views comments | 15 tweets | 12 linkedin
Barclays and PayPal join Government ID acc...
4994 views comments | 10 tweets | 11 linkedin

Featured job

Brussels, Frankfurt am Main or Paris

Find your next job