Visa announces 1 billion contactless transactions worldwide in public transport
Tashkent, Uzbekistan (UzDaily.com) -- Visa has reached the mark of 1 billion contactless transactions in public transport: more and more passengers appreciate convenience and speed.
A recent Visa Future of Urban Mobility Survey found that 91% of commuters expect contactless payment in transit, and nearly a third cite contactless as the top feature that will encourage them to use public transport.
According to the same study, the majority of public transport riders (88%) say that sustainability and sustainability affect how often they use public transport, with the majority of employed commuters (62%) using public transport for at least three days in Week.
One-touch contactless payment technology in transport - tap-to-ride, which allows passengers to use their existing card or mobile wallet to pay for travel, is much more convenient, since there is no need to carry the required amount of cash with them or worry about the transport card was always replenished. Visa has helped bring contactless payments to public transport in cities around the world, from Bangkok to Mexico City to Rio, and has supported more than 550 urban mobility initiatives since the launch of Tap to Pay in public transport in 2011.
In 2021, Tashkent became the third city in Uzbekistan, after Ferghana and Samarkand, where Visa, in cooperation with partners, deployed a contactless payment system in 1,100 city buses, as well as at all metro stations.
The rapid growth of digital payments is proof of how attractive this payment option has become for consumers. For the first time in history, the Visa network processed over a billion tap-to-ride transactions across global transport systems in a single year. Europe accounts for the largest share of these transactions, including over four million per day on Transport for London alone, with growth in each region; in North America, approximately one in five public transit payments is contactless. In addition to convenience and flexibility for customers, contactless payment technology has proven a return on investment for transport companies.
This contactless technology also supports Visa Prepaid and Private Label cards, which enable the purchase of digital tickets for all public transport users, regardless of their financial status or whether they have access to a bank account, which plays an important role in expanding financial inclusion worldwide.
Visa is working with city halls, urbanists, city transport departments, operators and solution providers to reimagine the urban travel experience with a focus on inclusiveness, sustainability and connectivity in multimodal transport. As part of the Resilient Cities Network, Visa is partnering with a number of cities in Latin America and the Caribbean to jointly develop digital solutions for the specific needs of the region.
Visa is also working alongside the World Economic Forum’s Global New Mobility Coalition, which seeks to better understand the challenges and solutions to create a shared, connected and decarbonized transportation ecosystem. The team recently examined the impact of innovation in mobility payments on sustainability: Innovation in mobility payments is keeping people moving while protecting the planet.
For the past 60 years, Visa has partnered with government agencies to improve payment methods and accessibility of transportation, support economic growth and improve the well-being of society. Implementing innovations in daily transport payments is the most effective way to help achieve our goals.