Over the last few years, we have witnessed a revolutionizing of the payment landscape with new technologies and new ways of payment emerging. Of the
numerous innovations, contactless has emerged as a technology that is transforming the way people shop and how merchants operate worldwide, creating a faster, more convenient way to pay for everyone.
Today, travel networks globally are faced with unique challenges especially with a growing population and urban migration. With these trends, transport authorities are reimagining service delivery and exploring new ways to create seamless payment experiences. While the existing paper ticket systems have worked, with the emergence of digital economies, they are becoming unfit-for-purpose, creating greater concerns on cost, revenue assurance and sustainability.
While there have been various initiatives to formalize the sector through updated laws, route management systems and the inclusion of the private sector in government bus programmes, there have been mild gains in terms of impact. Contactless can be key to institutionalizing an efficient market structure enabling real-time visibility in transport systems, data driven decision making on route management and targeted audience engagements for other stakeholders.
Contactless has been a key success factor for highly efficient transport systems globally with the top 10 cities in the Urban Mobility Readiness Index of 2022, all using contactless as an enabler to gain efficiency through the reduction of queues for tickets and collection time associated with cash payments. Contactless has also enabled data collection in these systems to make better decisions on route and traffic management.
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