GoAppified delivers an EMV solution for all European Train Providers, making it possible for customers to travel with a personal creditcard. This without having any special designated travel cards, which makes it a broad working solution for end customers around the world.
The basic behind EMV in transit is that the passenger can use their EMV payment card (Europay, Mastercard and Visa) and other certified payment card within the rules of EMV in transit to check in- and out of the journey in an Open loop Payment transaction.
The correct amount travelled will automatically be calculated and charged to the card holder when paying with a contactless EMV card instead of using a traditional transit-specific card.
Among the benefits of EMV in transit are removing the transit enrollment process for the occasional and foreign traveler, lowering card issuance costs, reliance on financial-grade security, and reducing the need for a dedicated top-up infrastructure for transit stored value.
EMV in Transit offers a Open loop Payment ecosystem allowing all passengers carrying a EMV card to pay contactless when entering any Transport Operator offering EMV in Transit payment solution.
Tokenization is a powerful tool to improve user experience and enabling quicker card payments for commuters and frequent travelers. It has a secure way to store passenger information to calculate the correct price of travelling giving access to off-peak pricing, transfer discounts, weekly travel rewards, and Automated Clearing House (ACH) transactions without having to use sensitive data.
EMV card can then be used as an identity token, where the EMV card is used only as an identifier that points to the passenger’s digital identity and not to perform a payment (zero transaction). The main advantage of using EMV as a token instead of instant capture of the amount is that it will allow the use of EMV cards as fare products and travel tickets.
Many passengers already have a contactless EMV card in their wallet issued by their bank, which is why GoAppified offers to use this EMV card and a digital Token as the customers digital identity (KYC), identifier for Account Based Ticketing (ABT) or just to pay for the travel fare as this will significantly lower the hurdle of payment for passengers who uses public transportation.
Using bank cards for payments in ticketing have already been implemented in different places and is typically done using one of the following methods, which link the payment directly to the card usage:
Retail model: Fixed price fare payments before starting the travel
Transit model: Variable fare – Transit solution, when the fare is unknown at the start of the travel
Capping model: Capture your fare, so you do not pay more per day or week, where multiple journeys can be aggregated in the transport operators back-end into one payment transaction as Account Based Ticketing.
Tourist, businesspeople and non-frequent travelers often find it too difficult to use public transportation, as payment have become inconvenient, when not carrying a travel card. Why, public transport operator misses the opportunity to get more passengers onboard and be a real alternative to other transportation providers who offers globalized payment services in a “ubernized” world.
The future of transport ticketing lies in bringing back convenience to all passengers by adapting to the Open loop Payment infrastructure, offering frictionless travel with a contactless EMV card.
This is the argument of EMV in Transit as most passengers already carries a debit or credit card in their wallet, mobile phone or watch and expect that the Transport Operator can support Open loop Payment and ticketing in a globalized world.
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