Visa: ‘tap-to-ride’ is a game-changing urban transit payment method for locals and tourists
- Adoption of open-loop transit payment systems is on the rise worldwide in response to growing demand for a smooth transport experience
- Visa is leveraging its global network and expertise to partner with transit operators and government agencies to implement contactless payment solutions
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In cities across the globe, smart mobility transit systems are increasingly common, where open-loop payment technology brings benefits that go well beyond commuter convenience.
Digital payments using an open-loop system are the key to more efficient transit systems. With such systems in place, universal payment technology enables commuters to experience greater convenience: a simple “tap-to-ride” solution, using an existing credit card, debit card or mobile wallet, accessible across all forms of transport.
Consumers are now demanding such services. Visa’s recent “Global Urban Mobility” survey suggests that contactless payment systems are at a tipping point: as commuters become more accustomed to the convenience of the tap-to-ride concept, they will become a catalyst for more streamlined and consistent payment systems that help drive a digital economy.
In Asia, where public transport fuels mobility in densely packed cities, the desire for choice and convenience is creating demand for contactless payments.
The emergence of digital natives is also influencing demand, with the behaviour of Generation Z and millennials helping the shift towards digital modes of payment.