Article Highlights
A panel of industry experts squared off for a first-of-its-kind debate about the pros and cons of open-loop payments, tackling a range of issues–from whether transit agencies can completely eliminate their closed-loop programs in favor of open loop, to costs agencies should be ready to incur when rolling out the technology
Even though interchange is capped in Europe at 0.2% for debit transactions and 0.3% for credit, interchange fees for one large European transit agency still account for around 60% to 70% of total bank card costs to accept open-loop payments, with network assessment fees accounting for most of the rest.
• Transport for London
• Transport for NSW
• Octopus
• EasyCard
• Littlepay
• Calypso
A panel of industry experts squared off for a first-of-its-kind debate about the pros and cons of open-loop payments, tackling a range of issues–from whether transit agencies can completely eliminate their closed-loop programs in favor of open loop, to costs agencies should be ready to incur when rolling out the technology.
This premium content is only available to subscribers
Article has about3195words.
To keep reading, subscribe today
Get access to premium content from the only global publication devoted exclusively to mobility payments by subscribing today to the most authoritative source for news and analysis in the industry.
