Fare Payments-as-a-Service (FPaaS) company Masabi and Littlepay, the company changing the way businesses process micropayments, announced a partnership to deliver the world’s first “cEMV in a Box” solution — a cost-effective, end-to-end contactless EMV system that can be deployed across all modes of public transportation.
The partnership will see Masabi combine its back-office fare-engine and Justride Validator with Littlepay’s transit-specialist payment gateway. By integrating with local and global acquirers, the companies can deliver transport operators and authorities all over the world a scalable, hybrid solution combining best-in-class ticketing and payments technology.
The provision of contactless payment options by public-facing businesses has become part of the COVID-19 pandemic health and safety protocol. In the transport sector, it will be an especially vital component of efforts to restore confidence in using public transport. Passengers will simply be able to tap their contactless bank cards or mobile phones to travel, removing the potential risks of handling cash or physically interacting with ticketing infrastructure.
The use of contactless bank cards and mobile payments to ride on public transport is referred to as contactless EMV (cEMV). These contactless ticketing systems are unique in their ability to allow passengers to turn up and pay for travel using what they already have in their pocket. The correct fare to charge a passenger’s credit/debit card or digital wallet is automatically calculated, eliminating the need to buy a ticket, create an account, or analyze ticket prices. cEMV systems make a lot of sense not only for passengers, but also for authorities who can move away from the costs of cash handling and issuing paper tickets or plastic smart cards, according to the companies.
Unlike bespoke systems, cEMV in a Box removes the complexity of deploying cEMV solutions by reducing the project and PCI certification burden and risk. Combining best-of-breed services, the partnership removes the need for authorities and operators to procure separately for an AFC provider, payments gateway, and acquiring bank. It also gives authorities flexibility to apply fare “rules” and capping to offer best value to their passengers, while reducing transaction fees.