Visa Europe predicts that, with the launch of contactless journeys on Transport for London’s (TfL) travel network and the introduction of mobile contactless services, Brits will make 500 million contactless payments between now and December 2015, when more than 50 million Visa contactless cards will be in UK consumers’ hands. TfL becomes world’s first transit network to accept Visa contactless cards on multiple forms of transport, according to Visa’s press release.
Transport for London customers can now use their contactless Visa cards to pay for journeys on all Tube, tram, DLR, London Overground and National Rail services that accept Oyster. These services join London Buses, which have accepted Visa contactless journeys since December 2012.
Sandra Alzetta, Executive Director, Visa Europe, says: “The rollout out of Visa contactless across the TfL network is a landmark moment for this easy and convenient way to pay and we’re delighted to have played such a key role in its design and implementation. From today, TfL accepts the 40 million Visa contactless cards already active in the UK and it’s our intention that any customer with a Visa-enabled mobile device will also be able to use it to travel on the TfL network.”
From June 2013 to 2014, growth in Visa contactless use more than doubled, reaching a total value of almost £140 million.
Alzetta adds: “We’ve seen an incredible response to the launch of contactless payments on London Buses with nearly 19 million Visa contactless journeys made since it launched in 2012. Today’s launch by TfL will be another major boost to contactless usage leading to the three-fold increase we expect in the next year.”
Transport for London’s contactless launch is the latest sign of increasing demand for digital payments. Visa is seeing growing usage, demand and interest in digital payments across Europe. In Poland, contactless Visa payments have been available on Warsaw and Wroclaw public transport since 2012 and there are numerous projects currently underway in other cities across the country, and beyond.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
