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Nearly 1 in 3 (32%) public transit riders cite contactless payments as a top feature that would entice them to use public transit – study

15 iulie 2022

New Visa survey finds digital payments are reshaping urban mobility experiences and expectations. The overwhelming majority (91%) strongly or somewhat expect public transit to offer contactless payment, with 57% strongly expecting it.

Visa’s second Future of Urban Mobility Survey found that 91 percent of those surveyed either strongly or somewhat expect contactless payment options to be available on public transit. Nearly half (45 percent) of respondents prefer to pay for transit using contactless payments.1


Among employed riders, 62 percent said they take public transit at least three times a week, and 28 percent ride five times a week or more.1 Just under half (42 percent) of those surveyed plan to use transit more often over the next 12 months.1 As ridership continues to ramp up, it will be important that paying to ride is secure and seamless.

Including more riders with a more dynamic fare experience

Payment options such as fare capping represent an important opportunity for transit operators to serve as many riders as possible. Fare capping limits how much a rider pays for their total rides in a day, week, or month, eliminating the need to tie up funds on a monthly pass or transit-dedicated card. Among survey respondents, 61 percent said that capped fares would encourage them to take public transit more often than a non-fare capped system.1

43 percent of riders rank faster journey times as a top motivator that would encourage them to use transit more often.1 Fare capping can help speed up the boarding process by alleviating confusion over how to pay for newer riders.

Graph of reasons most likely to entice riders to ride public transit

Why do riders prefer public transit? Of those surveyed, 88 percent said that sustainability and the environment were a factor in how often they decide to travel by transit, and it was the top reason for more than one in three riders (34 percent).1

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1 Visa’s “Future of Urban Mobility” survey: May 2022 (conducted by Wakefield Research among 11,550 adults who take public transportation in 14 markets: U.S., Canada, Australia, New Zealand, France, Italy, U.K., South Africa, UAE, Qatar, Kazakhstan, Peru, Saudi Arabia and Egypt.

View survey results here: Visa’s 2022 Future of Urban Mobility.

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Anders Olofsson – former Head of Payments Finastra

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:

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?