In November, Visa announced the launch of Visa Ready for Transit, a new certification for transit payment solution providers. Incorporating new standards, the program has been created to give transit operators the peace of mind that the technology solution they choose is both highly capable and meets high standards for security.
Vix Technology works with many payments schemes around the world, and is pleased to be one of the first in the world to be approved for the Visa Ready for Transit certification.
Owing to the already high penetration of contactless EMV payments in the retail sector, the rate of adoption in transit has to date been significantly faster than other industries. This is largely in part due to customer expectations rapidly changing, and travellers increasingly expecting payment transactions to be quick and painless.
Contactless payments allow for a frictionless transit experience, and act as an important step in building trust between the operator and passenger. Combined with account-based systems, operators are able to offer a wide array of best fare products (such as fare capping), loyalty schemes and promotions, all which help build on that trust and personalise the transit experience.
Since delivering the world's first account-based electronic fare collection system, our innovations have allowed customers to increase capacity, improve operational efficiencies and foster increasing adoption of public transport through convenient, modern transit ticketing solutions.
Advanced fare collection continues to play a crucial role in providing a better customer journey for millions of passengers worldwide, and we are committed to being at the forefront of innovation within our industry, as being one of the first technology providers approved to be certified for this scheme highlights.