16 July 2018
Visit www.gemalto.com

Visa bids to bring contactless transit payments to the world

13 November 2017  |  10164 views  |  0 tfl contactless

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."

KeywordsEFTPOS

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

New York subway to go contactless

New York subway to go contactless

27 October 2017  |  11002 views  |  1 comments | 22 tweets | 29 linkedin
Apple sidelined as Beijing transit system launches payments app

Apple sidelined as Beijing transit system launches payments app

15 August 2017  |  9170 views  |  1 comments | 14 tweets | 10 linkedin
Singapore transit system to trial contactless bank card payments

Singapore transit system to trial contactless bank card payments

26 July 2016  |  8508 views  |  0 comments | 14 tweets | 10 linkedin
UK contactless spending trebles in 2015

UK contactless spending trebles in 2015

26 February 2016  |  10305 views  |  0 comments | 21 tweets | 22 linkedin
TfL hits million contactless taps a day mark

TfL hits million contactless taps a day mark

17 March 2015  |  9329 views  |  1 comments | 25 tweets | 18 linkedin
London buses go cashless

London buses go cashless

07 July 2014  |  12926 views  |  8 comments | 24 tweets | 23 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit www.aciworldwide.comVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Flux ready for take-off on Barclays Launchpad; scores trial with Costa CoffeeFlux ready for take-off on Barclays Launch...
10536 views comments | 4 tweets | 9 linkedin
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9534 views comments | 18 tweets | 30 linkedin
PayPal ready to spend $3bn a year on acquisitionsPayPal ready to spend $3bn a year on acqui...
8091 views comments | 13 tweets | 17 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8029 views comments | 3 tweets | 1 linkedin
No greater change will occur than that in financial servicesNo greater change will occur than that in...
7634 views comments | 7 tweets | 13 linkedin

Featured job

Find your next job