It is nowadays becoming increasingly common to pay with a bankcard in any sort of establishment. Noncash payment, without having to tout cash around, is a trend that is facilitating and speeding up purchases of commodities or service payments. Moreover, if we are the victims of any theft or lose our wallets or other personal belongings we can simply disenable the device and thereby pre-empt any charge on the card. Account-based ticketing and EMV standard bankcard payment systems are becoming increasingly advanced and allow new forms of payment, including contactless cards and various cell-phone-based systems. There is a general sense that electronic payment, on the strength of its private security, is becoming more and more trustworthy, and its convenience means that is now being taken up increasingly in public transport.
Advances in ticketing systems
Two main factors are now driving more and more people to use metros, trains or buses or other means of collective transport instead of private cars: firstly, the need of reducing the human impact on cities and secondly the chronic traffic problems in built-up areas. Forward-looking transport authorities such as the Consorcio de Transportes de Mallorca are therefore bringing in new, efficient access-control, use- and payment-systems taking in the islands’ whole multimodal public transport system including bus, train and metro. The EMV-enabled, end-to-end payment solution brings together in one seamless system traditional smartcards with physical bankcards or virtual bankcards on the cell phone.
What systems are being taken up by public transport systems around the world?
Particularly noteworthy within the European Union is the system recently implemented in Cyprus, which had to solve the complex problem of a bus transport system run by many different companies. The solution brings in a unified fare-charging system using a single smartcard that allows the holder to travel on any bus in the whole region, whether on urban or interurban lines; the result is that local people can now move about more freely and easily.
This trend has also arrived in Latin America. Chile is now replacing its previous system of cash payments, long waits in line and magnetic tickets with contactless cards, representing a huge leap forward for metro technology.
Cash payments will soon be dismissed as an obsolete, old-fashioned irrelevance. We’ll all be paying with cards or, above all, by means of handhelds, especially cell phones. Whatever the payment method and the transporters’ or users’ needs, GMV can come up with the solution. We are trailblazers in EMV bankcard enabled systems.
Las opiniones vertidas por el autor son enteramente suyas y no siempre representan la opinión de GMV
The author’s views are entirely his own and may not reflect the views of GMV