Article Highlights

Key Takeaway:

Major payments networks say use of contactless payments continues to grow, and that has translated to increased demand for open-loop payments of transit fares.

Key Data:

Visa had enabled nearly 250 transit fare-collection systems globally to accept open-loop payment, said Visa CEO Al Kelly in April. Kelly at the time said Visa research showed that open-loop payments in transit “can bring more than a 15% lift in transactions for merchants in the surrounding neighborhoods,” though he didn’t offer references at the time.

Organizations Mentioned:

• Visa
• Mastercard

Visa reported this week that contactless payments continued to climb as a percentage of all face-to-face transactions with its brand at retail, and among the uses the network is continuing to push for contactless payments is to pay transit fares.

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