Visa’s transit programme is aimed at companies whose technology products and capabilities can help agencies and riders realise the benefits of tapping to ride with a contactless card or digital wallet.
BPC’s smart city payment division, O-City, has joined the Visa Ready for Transit programme that aims to help mass transit operators and technology providers of different sizes to add contactless technology at the fare gate.
Acceptance to the transit programme means that O-City becomes a certified partner and is available to cities globally to accelerate their digital transformation.
Transit authorities traditionally use their own proprietary systems to accept payments for bus, metro, train or tramway journeys. These systems use closed-loop cards, which are built solely for a specific transport mode and cannot be used to pay for anything else. According to O-City, such systems are expensive and inflexible, and force transport agencies to be their own bankers.
Visa Ready is bringing together all players in the ecosystem to drive the adoption of open-loop systems. For transport agencies, the adoption of an open-loop system frees them from the hassle of building and maintaining a complex payment system, allowing them to focus on offering the best traveller experience as travellers can pay with the mobile phone or card they already have.
Accelerated by the global Covid-19 pandemic, the world is rapidly embracing contactless payments across all public transportation, reports Visa Ready, and the move to contactless open-loop payments will positively impact the daily lives of millions of passengers worldwide.
“The traveller’s experience is significantly improved and you see a significant increase in the adoption of contactless digital payments to access citywide transit systems”
Both transport agencies and customers will win, and fares should be reduced, enabling greater inclusion and access to public transport.
“With contactless payments, everyone wins. The traveller’s experience is significantly improved and you see a significant increase in the adoption of contactless digital payments to access citywide transit systems. Digital ticketing can increase loyalty and revenues,” said Tokhir Abdukadyrov, SVP of smart city and transport solutions, BPC.
“Acceptance into the Visa Ready programme represents a key milestone in O-City’s plans to drive digital transformation in collaboration with transport operators worldwide.”
Visa Ready seeks to simplify the process of identifying the right partner for automated fare collection. O-City enables tap-to-pay for travellers using their existing Visa card, a mobile phone or a wearable device such as a smartwatch.
O-City said it is ready to collaborate with transport operators worldwide on POC and innovative projects to further drive and accelerate the adoption of digital and contactless payments.
Founded in 2018, O-City claims it is already being used worldwide by more than 100 cities of all sizes, including Bogota and Moscow.
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