Article Highlights

Key Takeaway:

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

Key Data:

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.

Organizations Mentioned:

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.

Subscription Required

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.

Already a member? Log in here