Visa Quietly Lowers Interchange for Transit Agencies in California but Scope of Reductions Limited So Far

Card at terminal, Monterey-Salinas Transit

Visa has quietly introduced a new interchange category for transit agencies in California, Mobility Payments has learned. If rolled out nationally and across more card types, the changes could substantially reduce the high fees that agencies pay to accept credit and debit cards for fares. […]

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Visa, Mastercard Forecast More Contactless Growth in U.S., Spurred in Part by New York Fare Payments Service

The heads of the two largest payments networks in the U.S., Visa and Mastercard, predict strong growth for contactless payments in the U.S., with Mastercard CEO Ajay Banga noting that 70% of U.S. Mastercard-branded cards in the U.S. are coming up for reissue over the next 12 to 14 months, and most of these cards will be issued with a contactless interface. A large number of Visa-branded cards will be reissued with a contactless interface during that period, as well. […]

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Can Transit Agencies Quit Closed Loop after Rolling Out Open-Loop Payments?

Apple Pay at TfL terminal

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. […]

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