Visa launches program to help transit agencies with contactless payments
Visa has launched Visa Global Transit Solutions, a program designed to accelerate the use of open-fare contactless systems for mass transit commuter worldwide, according to a press release.
"Visa played an important role in partnering with Transport for London," Michael Lemberger, head of products at Visa in Europe, said in the release. "We are applying the expertise, which has led to more than one billion Visa contactless journeys on Tf, to help mass transit operators around the world move away from cash and tickets to contactless payments on buses and trains."
The new Visa transit program is intended to help 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 epicenter 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.