27 February 2017
visit nextgenbanking.co.uk

Visa and MasterCard aim for contactless transport

12 June 2007  |  9883 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)

Finextra news in your inbox

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

Related stories

MasterCard wins court ruling against Visa debit fee

MasterCard wins court ruling against Visa debit fee

11 June 2007  |  5250 views  |  0 comments
HSBC to pilot Visa contactless payments cards

HSBC to pilot Visa contactless payments cards

25 May 2007  |  12898 views  |  0 comments
UK banks to face low-cost challenger for contactless payments

UK banks to face low-cost challenger for contactless payments

17 May 2007  |  9554 views  |  0 comments
UK banking industry set for contactless card roll out

UK banking industry set for contactless card roll out

08 May 2007  |  9169 views  |  0 comments
US contactless cards to hit 109m by 2011

US contactless cards to hit 109m by 2011

03 May 2007  |  5672 views  |  0 comments
Barclaycard unveils contactless payments terminal for taxis

Barclaycard unveils contactless payments terminal for taxis

14 February 2007  |  11111 views  |  0 comments
VeriFone and MasterCard equip Philly taxis with PayPass

VeriFone and MasterCard equip Philly taxis with PayPass

15 November 2006  |  6595 views  |  0 comments
Las Vegas, LA experiment with new transit payment schemes

Las Vegas, LA experiment with new transit payment schemes

02 September 2005  |  5732 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit Yelloco.co.ukvisit dh.com

Who is commenting?

Top topics

Most viewed Most shared
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
13249 views comments | 52 tweets | 74 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
8730 views comments | 40 tweets | 34 linkedin
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
7365 views comments | 7 tweets | 4 linkedin
hands typing furiouslyBlockchain Technology
7133 views 1 | 18 tweets | 7 linkedin
High rate of defaults hit P2P lending sectorHigh rate of defaults hit P2P lending sect...
7029 views comments | 19 tweets | 13 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job