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.
Making it simple for passengers to pay for their bus journeys using a bank or credit card makes a huge difference to their experience. But getting systems up and running can be a massive undertaking for transit companies. Enghouse partnered with QBuzz to deliver a contactless fare collection system.
EMV payments will provide cost savings for transits and an improved rider experience for public transportation users. One of the most significant enhancements transit agencies migrating to are contactless open-loop payment systems. “Transit agencies across the globe want to implement contactless, open-loop payment systems but do not possess the technology and expertise to implement open-loop payments.” said Visa
As many as 150 major cities across the globe are considering switching from legacy closed loop payment systems to open loop systems, according to the American Public Transit Association (APTA).
That means moving from agency-operated payment cards to Europay, Mastercard, Visa (EMV) pay platforms that allow transit riders to pay for their transit fare the same way they use their credit or debit card or mobile wallet at coffee shops, convenience stores and supermarkets.
In the postwar years, both Americans and Europeans embraced the automobile. The difference is that European governments continued investing in transit while U.S. cities all but abandoned public transportation. What is the reason for that? The stock answer has always been that American cities suffer from urban sprawl, cheap gas, and a love for the automobile.