(MENAFN- Trend News Agency)
BAKU, Azerbaijan, October 5. Visa has announced
that it has reached the one billion contactless transaction
milestone in public transport for the first time in one year,
reports via
Visa's Azerbaijani representative office.
Europe accounts for the largest share of these transactions,
including more than four million per day for the Transport for
London system alone. There is also growth in every single region,
and in North America, about one in five payments in public
transport is contactless.
Visa launched a technology for contactless fare payment in
commuter trains in Baku at 14 stations of Absheron Ring Railway in
2021.
'Passengers of this route can pay for the trip with a
contactless bank card or devices with a built-in NFC module:
smartphones or smart watches. The project was implemented jointly
with Azerbaijan Railways CJSC, the Central Bank of Azerbaijan, the
International Bank of Azerbaijan, and with the support of RBC
Group, IBA Group, and Azericard,' Visa said.
Visa also noted that the rapid growth of digital payments is
proof of how attractive this payment option has become for
consumers.
“In addition to being convenient and flexible for customers,
contactless payment technology has proven a return on investment
for transport companies. Visa is working with city halls,
urbanists, city transport departments, operators and solution
providers to rethink the urban travel experience with a focus on
inclusiveness, sustainability, and connectivity in multimodal
transport,' Visa said.
The recent Visa Future of Urban Mobility Survey showed that 91
percent of passengers look forward to contactless payment in public
transport, and almost a third named contactless payments as the top
feature that will encourage them to use public transport.
According to the same study, the majority of public transport
passengers, or 88 percent, say that environmental friendliness
affects how often they use public transport. At the same time, the
majority of employed passengers, or 62 percent, use public
transport at least three days a week.
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