The Massachusetts Bay Transportation Authority (MBTA) is teaming up with transit mobile ticketing solutions provider Masabi US ltd to bring mobile ticketing to commuter train travellers this autumn (view press release). The new app will be compatible with iPhone, Android and Blackberry and will enable consumers to buy their train tickets and display them to the conductor directly from their smartphone device. Each mobile ticket will have a barcode to be scanned for validation and all transactions will be processed through the encryptME security system. Monthly pass holders will be able to link a plastic ‘CharlieCard’ to their pass, enabling them to ‘tap in’ rather than using a magnetic ticket.
Masabi will provide the full ticketing solution incorporating everything from the customer-facing app and backend servers, to payment integration and scanning/validation software. The new solution is designed to cut costs by removing the need to install more vending machines and reducing cash handling overheads.
In another big deal for the global payments industry this week, credit card firm Visa has inked a partnership with digital payments processor PayPal.
The five fintech startups joining credit card company’s Capital One’s new fintech accelerator in Nottingham have been named, including Credit Kudos, Multisense, Pariti, Warwick Analytics and WealRo.
Europe continues to see rapid adoption of emerging payment technologies as consumers in digitally savvy countries like Sweden and the UK continue to drive adoption of methods like contactless across the region. In our latest infographic we take a look at what the latest numbers tell us about the evolution of payments in the region and what they tell us about the future of cash, cards and contactless.
According to new research commissioned by global payments provider TNS, more than a quarter (28%) of people aged 25 to 34 have already made a biometric payment, and are leading the way in the take up of this new technology.