Visa bids to bring contactless transit payments to the world

Visa bids to bring contactless transit payments to the world

Visa is looking to accelerate the adoption of contactless payments on the world's subway, rail and bus networks through the launch of a dedicated transit programme.

Contactless ticketing has proved a huge hit in London, where 40% of pay-as-you-go journeys on the tube and buses are now made using tap and pay cards or mobile devices. New York recently vowed to follow suit in the next few years.

To help other cities looking to make the move, Visa has set up a global transit programme that will offer consulting services from a team of specialists, comprised of a central group in London and regional experts around the world.

The card giant has also created a Mass Transit Transaction model back-office framework to manage contactless payments regardless of transit operators' size or fare structure, and has also expanded its Visa Ready programme to include technologies available to operators.

Visa claims a switch to contactless could result in major benefits for operators. The firm's recent Cashless Cities report found that transit agencies spend an average of 14.5 cents of every physical dollar collected, compared to only 4.2 cents for every digital dollar.

Michael Lemberger, head of products, Visa in Europe, says: "Visa played an important role in partnering with Transport for London (TfL). We are applying the expertise which has led to more than one billion Visa contactless journey on TfL to help mass transit operators around the world move away from cash and tickets to contactless payments on buses and trains."

Comments: (0)