As Use of Digital Wallets Grows with Open Loop, Transport for London and other Agencies being Hit by ‘Retokenization’ Fraud

Digital wallets are fast becoming the preferred method of payments for transit riders using open loop, with some major agencies recording well over half of their open-loop transactions coming from mobile devices, as Mobility Payments reported. But for at...

‘Frankly Outrageous’: Open-Loop Pioneer Says Interchange Fees for Transit Agencies Too High, Especially in U.S.

Phone at terminal in Santa Barbara
Shashi Verma, chief technology officer for Transport for London and the driving force behind the agency’s landmark open-loop payments service, called for greater regulation of interchange rates outside of the UK and European Union to reduce fees agencies...