VeriFone Holdings (NYSE: PAY) today announced that it has developed an EMV certified integrated transportation payment system in conjunction with Bank Asya (ISE: ASYAB) of Turkey that is now in use on buses in the city of Kahramanmaras.
The transportation payment system was designed to enable municipalities to transition their bus systems from cash to bank cards and credit cards. VeriFone designed an integrated solution that accepts payment by EMV cards and utilizes contactless technology.
The project was planned and implemented in cooperation with Bank Asya, Turkey's biggest interest free bank. Bank Asya will issue payment cards for the system and MasterCard PayPass contactless cards that will speed up passenger payment. MasterCard and Bank Asya recently launched Asyacard DIT, a multi-application chip and PIN card that combines MasterCard EMV OneSmart features with an integrated municipal toll and transit application as well as contactless technology.
"Bank Asya believes that forward-looking projects like this are essential to provide contemporary and satisfactory service and these projects can only be achieved with cooperation of high profile, dedicated companies. That is why we chose VeriFone in this project," said Bank Asya Executive Vice President Mustafa Büyükateş.
The payment system integrates VeriFone's passenger-facing MX870 multimedia payment system, QX110 contactless reader, as well as cellular GPRS for mobile communications and WiFi modem. Bank Asya's efforts are designed to integrate toll and transit functions with contactless smart cards to leverage the Kahramanmaras Public Transportation Project, a municipal initiative in Eastern Turkey. In addition to paying for bus fares, AsyaCard DIT owners can use their cards for tolls on motorways and bridges, including the two bridges over the Bosphorus Straight in Istanbul that connects Europe and Asia.
"Bank Asya and the municipality of Kahramanmaras are implementing a transportation payment system that will be an example for other communities in Turkey," said Lazy Yanay, VeriFone managing director, Middle East. "This system demonstrates the growing impact of electronic payment technology to improve the daily lives of consumers."
VeriFone transportation and transit solutions are being used to bring electronic payment to one of the last bastions of daily commerce that still relies on cash and paper tickets. The company has implemented integrated solutions for municipalities and private companies around the globe, from New York City to Singapore.