One concern regarding Open-Loop Ticketing Systems is the consequences it may have for people who do not use traditional banking services or who don’t have access to smartphones. Also, the emergence and growing adoption of secure and efficient payment technology offer transit agencies an unprecedented opportunity to phase out inefficient legacy systems and allow customers to pay for transit the same way they pay for most other goods and services.
A few resources are available to agencies considering modernizing their payment systems.
Open-Loop Payment Systems allow transit agencies to get out of the business of issuing fare media and maintaining the card sales infrastructure. This significantly lowers operational costs for the transit agency. This is one of the 7 reasons we outlined for you in this article.
Public transportation agencies must continue to test and adopt new service models and technologies that can enhance the customer experience, protect the environment, improve operations, and save money.
The American Public Transportation Association has outlined six “North Star” principles to guide its member organizations in the development of the new urban mobility network.
Open Loop Ticketing is the future of mobile ticketing!
Any strategy to rebuild transit passenger numbers will have simple payments as a critical component. It’s a simple change that can make all the difference.
The key to this system is in the name. And the transition to open-loop ticketing is less daunting than many agencies imagine.
With 12bn EMV cards deployed worldwide, and issuance and adoption seeing sustained increases globally, EMV chip provides a trusted foundation that is supporting the ongoing shift away from cash and towards digital payments,” said EMVCo Chair Robin Trickel.