Visa Inc. (NYSE: V) today announced that 100 partners have enrolled in its global transit partner program, Visa Ready for Transit, giving transit agencies access to an expanded network of technology solutions and expertise to make it easier to get around.
Transit agencies everywhere are recognizing the benefits of enabling contactless payments at turnstiles and on buses. Tapping to ride with a contactless card or digital wallet helps riders save valuable time by avoiding the need to pre-purchase a ticket, manage a standalone transit card, or stand in line to reload their fare card. Visa helped to launch 60 new transit projects in the past year alone, and projects are that live currently are seeing positive adoption with a 40% year-over-year rise in contactless transit transactions.
“Transit riders around the world are embracing the speed, security and convenience of traveling with contactless payments and transit agencies have taken note. With nearly 180 projects currently underway, Visa is committed to delivering this improved experience and better journeys for riders everywhere,” said Nick Mackie, global head of urban mobility, Visa. “We are encouraged by the continued growth of Visa Ready for Transit as a key part of accelerating the delivery of contactless transit solutions by giving transit agencies access to Visa-certified solutions, while helping partners maximize their investments.”
By selecting a technology provider or consultant to support a project through Visa’s transit partner program, transit agencies can simplify the process of identifying the right partner and expertise, streamline testing and implementation, and expedite overall time-to market. Transit agencies can move projects forward with confidence that the Visa Ready-certified solution they choose meets Visa’s high standards for security.
Contactless transit solutions have been shown to streamline fare collection and reduce operational costs while helping to boost ridership through an improved customer experience . The Visa Ready for Transit program provides transit agencies with access to 100 partners worldwide with market-leading solutions and capabilities to support key aspects of next generation fare systems, including ticketing and fare collection, and back office management. In addition to technology providers, Visa’s partner program includes leading consultancies that can support transit agencies through access to technical documentation and expertise in designing and delivering solutions based on these frameworks.
“The MTA is committed to delivering faster and more convenient trips for our riders. Tapping to ride with contactless cards and digital wallets not only makes it easier to get riders where they want to go, it also offers flexibility and choice to use their preferred payment method,” said Al Putre, OMNY Program Executive, MTA. “We have received exceedingly positive feedback from riders since launching OMNY, the MTA’s new contactless fare payment system, as evidenced by reaching nearly three million taps since launch on May 31. Working with partners with the technical expertise and leading capabilities to deliver this experience has been critical to the project’s continued success.”
Consumers around the world continue to choose tapping to pay as the preferred way to check out, with more than 50% of Visa face-to-face transactions outside the U.S. occurring with a tap. More than 100 million Visa contactless cards have been issued in the U.S., with 300 million expected in 2020.
“As an international travel destination with a population of just under half a million, the city of Edinburgh has to balance the transport needs of both residents and visitors across a compact environment. We have been blown away by the response among customers since launching contactless payments across all 600+ city buses, having recently processed our two millionth tap on the two month anniversary of our launch,” said Stevie Chambers, Commercial Projects Manager, Lothian. “The greatest benefit for our customers is that unlike traditional ticketing, it requires little or no knowledge of our fares and network; they are simply charged the best fare for the journeys they’ve made. As a transport provider, if contactless isn’t yet part of your ticketing strategy, it needs to be.”
Visa Ready for Transit helps participating companies realize opportunities as more cities around the world look to enable new payment methods that meet evolving consumer preferences and expectations. Visa partners can maximize their investments in new solutions and capabilities through certification and testing with Visa’s global rules. Visa Ready-certified solutions work across the globe, whether a rider is on a bus in Sao Paulo, Singapore or Sydney.
New Visa Ready partners join a group of partners already participating in the growing opportunity to improve rider journeys:
“We are passionate about enabling the world’s transportation authorities and operators to improve the daily lives of travelers through innovative payment and information technologies. As more cities around the globe look to simplify how people pay for mobility services, we are proud to work with companies such as Visa to continue meeting the ever-changing needs of modern day travelers with next-generation payment technologies.” - Boris Karsch, vice president of strategy, Cubic Transportation Systems.
"Participation in Visa’s transit partner program has enabled Vix to deliver the intuitive and frictionless transit payment experience that passengers demand, while allowing transit agencies to provide fare innovation and charging control for their service. Being part of the Visa program has helped accelerate the adoption of contactless EMV payments across our agencies globally, bringing both operational benefits and cost savings, in addition to providing a wealth of valuable service data as agencies strive to enable service digitization." - Adrian Kelly, Chief Product Officer, Vix Technology
“Movement of people through mass transit systems will only increase as time becomes more precious and the focus on climate conservation becomes second nature to future generations. The ability for people to access transit services will be driven not only by ticketing innovations but by payment solutions that bring balance to the supply and demand of these services alongside needs and wants of consumers. Worldline and Visa have collaborated on many projects to introduce new forms of digital payments to transit, bringing inherent benefits of increased revenue collection, fraud reduction and most importantly simplification of access for travellers. We expect the continual pace of change in this industry will increase and with it bring product developments that maximise the potential of global payment networks to transit in the same way they have for consumer retail.”- James Bain, Global Director Transport, Worldline