Visa has enabled commuters in New York and New Jersey commuters to pay for their travelling fares using Visa payWave-enabled cards and mobile phones.
The contactless payment mobile application is now accepted at New Jersey Transit busses, Port Authority Trans-Hudson (PATH) rail system, New York City subway, New York taxis and New York City subway, reported Retaildive.com.
Go deeper with GlobalData
The programmes are aimed at expanding Visa’s acceptance to new locations as a part of its long term strategy.
The new mobile payWave platform eliminates the use of cash for buying a ticket whilst reducing cash-handling costs for transit operators.
The payWave technology is based on a small electronic chip embedded in a payment card or mobile phone.
The embedded chip securely communicates with the contactless readers on the bus and at the fare gate. This enables riders to make payments by holding their Visa payWave-enabled card or mobile phone at the reader placed at the fare gate.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataVisa San Francisco-based head of mobile contactless payments Dave Wentker was quoted by the website as saying: “Visa’s working to bring mobile contactless payments to consumers in the U.S. by transforming mobile phones with a microSD slot into Visa mobile payment devices.”
Visa is also testing both smartphones and payment cards enabled with payWave, as a part of its participation in the transit programme in New York.
Built by DeviceFidelity, this mobile technology, transforms smartphones into a Visa payment device with a microSD slot.
Wentker added: “The mass transit trial in New York allows Visa and the transit agencies to test Visa payWave-enabled mobile phones and cards as a way for mass transit riders to pay for subway, train and bus fares.
“As a result, transit agencies can streamline their operations and decrease their investment in custom-built fare systems, cash-handling costs and fare card lifecycle costs.”
Visa introduced new payment services for commuters in Kuala Lumpur, Singapore, Seoul, Paris and London.
