Management & Operations

Visa introduces global contactless transit payment program

Posted on November 13, 2017

A Visa study 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.
A Visa study 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.

Visa today launched a new program designed to accelerate the use of debit, credit and pre-paid accounts at the fare gate or on a bus reader, speeding up and creating a more convenient experience for mass transit commuters worldwide.

The new Visa transit program, Visa Global Transit Solutions, helps mass transit operators and technology providers of any size add contactless as a fare option at the gate. The global program consists of:

    Consulting: The Visa Global Transit Solutions team is comprised of a central group in London and dedicated regional specialists around the world who will support contactless payments implementations, providing guidance and hands-on assistance. Together, the team has more than 50 years of experience working directly with, and for, mass transit operators and related industries.   

   Frameworks: Visa has created the Mass Transit Transaction model, a back-office framework to manage contactless payments regardless of transit operators’ size or fare structure. The Visa model enables operators to offer a range of flexible fares, including fixed fares, distance- and time-based fares, and multi-modal fares, as well as features like fare capping, concessions, and delay refunds.   

    Tools and Standards: An important part of Visa Global Transit Solutions is the expansion of the Visa Ready program to include payment technologies available to mass transit operators. Visa Ready for Transit enables technology companies to become Visa Ready certified, giving mass transit operators the peace of mind that the technology solution they choose meets Visa’s high standards for security. As the initial Visa Ready for Transit program participants, Worldline and Vix Technology will help to offer new, open loop contactless solutions to transit operators globally.

    Future of Transportation: Visa is looking at the complete end-to-end consumer experience, making the Innovation Center in London the natural epicentre for future of transportation commerce options, including automobiles, air travel, and mass transit. The Visa team will engage with transit operators, technology enablers, fintech companies and others to examine all aspects of the consumer journey and engage in the co-creation of new travel experiences.

Visa’s recent Cashless Cities report notes that digital payments have the potential to significantly decrease costs associated with transit and toll systems maintained by municipal governments. The study 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.

Visa recently launched a series of events for transit operators and technology companies to learn more about the various initiatives being developed by the Transit program. The first event was held in London with future events to be held in Dubai, New York, and Singapore.

Over the coming months, the Visa Global Transit Solutions program will further expand to include new offerings ranging from fraud management and back-office capabilities to loyalty and marketing programs aimed at optimising the customer experience.

The Visa Global Transit Solutions team has implemented a dozen transit solutions to-date in Europe and currently has new projects underway in Asia, North America and Europe – all focused on customer propositions that reduce the hassle of using public transport. Acceptance of contactless payments across the globe has increased significantly in recent years – particularly in Europe, where today over 40 percent of Visa’s face-to-face transactions are contactless

View comments or post a comment on this story. (1 Comment)

More News

New Flyer to invest $28 million in Ky. facility

The Shepherdsville, Ky. facility will fabricate parts for the manufacture of New Flyer transit buses, MCI motorcoaches, and spare parts for NFI Parts.

MCI names San Francisco Bay Area leadership team

The team consists of Mike Albertolle, manager of business development and service; Matthew Hiibel, service manager; Roland Schauer, shop supervisor; and Roman Bystron, parts supervisor.

Minn. Metro Transit union workers threaten strike during Super Bowl

The union’s president noted that although the most recent agreement was overwhelmingly rejected, he is optimistic an agreement will be reached before the deadline.

COMTO launching new Washington State chapter

Local charter agency members and supporters of COMTO Washington State include Pierce Transit, the Seattle Department of Transportation, Washington State Department of Transportation, Community Transit, and the Port of Seattle.

New York drops 'ladies and gentlemen' for more inclusive announcements

Effective immediately, subway conductors and bus drivers have been instructed to use gender-neutral language when communicating, such as "passengers," "riders," and "everyone."

See More News

Post a Comment

Post Comment

Comments (1)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close