Article Highlights

Key Takeaway:

Despite the growth of open-loop payments, closed loop will continue to play a necessary role for transit agencies, especially to accommodate the unbanked and underbanked and customers that don’t want to use their credit or debit cards to pay fares, panelists at a recent Visa-sponsored webinar said.

Key Data:

TfL is believed to have negotiated an exceedingly low transaction fee with its main acquirer and processor Barclaycard. Mobility Payments has learned the fee is as low as 3 basis points per transaction.

Organizations Mentioned:

TfL (London)
Cybersource
Visa
• Retail Delivery Group

Despite the growth of open-loop payments, closed loop will continue to play a necessary role for transit agencies, especially to accommodate the unbanked and underbanked and customers that don’t want to use their credit or debit cards to pay fares, panelists at a recent Visa-sponsored webinar said.

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