O-CITY joins the Visa Ready for Transit program to drive contactless payments for mass transit systems globally
June 30, 2020
Accelerated by the global COVID-19 pandemic, the world is rapidly embracing contactless payments across all public transportation benefiting millions of passengers worldwide
Acceptance to the Visa Ready for Transit program is a milestone for O-CITY, which is already operating in over 100 cities worldwide.
Joining the program will fast track O-CITY’s availability globally with the adoption of best industry standards, the affiliation to the Visa network and co-innovation with all members to further drive contactless payment adoption
With Visa Ready, O-CITY will overcome traditional public transport challenges
Transit authorities traditionally use their own proprietary systems to accept payments for bus, metro, train or tramway journeys.These systems use closed-loop cards, which are built solely for a specific transport mode and cannot be used to pay for anything else.Such systems are expensive and inflexible, and they force transport agencies to be their own bankers.
Visa Ready is bringing together all players in the ecosystem to drive the adoption of open-loop systems.For transport agencies, the adoption of an open-loop system frees them from the hassle of building and maintaining a complex payment system, allowing them to focus on offering the best traveller experience as travellers can pay with the mobile phone or card they already have.
The move to contactless open-loop payments willpositively impactthe daily lives of millions ofpassengersworldwide. Both transport agencies and customers will win, and fares should be reduced, enabling greater inclusion and access to public transport.
Tokhir Abdukadyrov, SVP of smart city and transport solutions, BPC, commented: “The world is rapidly embracing contactless payments across all public transport; a situation that will only be accelerated by the COVID-19 global pandemic. With contactless payments, everyone wins. The traveller’s experience is significantly improved and you see a significant increase in the adoption of contactless digital payments to access citywide transit systems. Digital ticketing can increase loyalty and revenues. Acceptance into the Visa Ready program represents a key milestone in O-CITY’s plans to drive digital transformation in collaboration with transport operators worldwide.”
Transport operators benefit from certified technology and business expertise
Visa Readysimplifiesthe process of identifying the right partner for automated fare collectionandchoose O-CITY to accelerate their digital transformation. O-CITY is ready to collaborate with transport operators worldwide on POC and innovative projects to further drive and accelerate the adoption of digital and contactless payments.
O-CITY is already being used worldwide by over 100 cities of all sizes, from Bogota to Nur-Sultan, Bishkek and Moscow. The expertise and experience gained by O-CITY of operations, technology and go-to market strategies can be transferred to other transport operators going through a similar journey of opening their system up to contactless payments.
Superior travel experience
O-CITY enables tap-to-pay for travellers using their existing Visa card, a mobile phone or a wearable device such as a smartwatch. The use of contactless payments at public transport gates is growing globally, removing the need for passengers to carry paper tickets, own an additional travel card or queue at a counter to top up a card or purchase a ticket. By using O-CITY, travellers can easily move just at the touch of their mobile, card or wearable, improving the flow of people at entry and exit gate points. Moreover, since contactless payment are pin-free, passengers do not need to halt at a gate, allowing them to enjoy a seamless experience from their departure to their destination.