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Transit and Contactless Financial Payments: New Opportunities for Collaboration and Convergence |
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The financial payments industry and transit agencies are moving towards contactless smart card technology. In the payments industry, consumers can use their ExpressPay from American Express, MasterCard PayPass or Visa Contactless cards or devices anywhere contactless payment is accepted. Soon, some mobile phones may be equipped with compatible contactless technology to be used in the same way. Transit agencies are issuing their own contactless smart cards as a fare medium that typically includes features specifically associated with transit. The white paper looks at new financial industry directions and transit industry requirements to assess how the two industries might collaborate to combine the best of both worlds. It also presents the key considerations for implementing a payment model where transit agencies can accept contactless financial payment cards directly.
http://www.smartcardalliance.org/ |
