Secure Technology Alliance Provides Implementation Guidance, Discusses Opportunities and Challenges for Multimodal Payments Convergence in Transit
PRINCETON JUNCTION, N.J., January 17, 2019 – Travelers today have access to more ride options than ever before, but with so much variation across services, the payment experience can be confusing. Many transit service providers are considering streamlining the traveler experience with mobility services through multimodal payments convergence¹. The Secure Technology Alliance today released the second resource in its two-part series on multimodal payments convergence, outlining key considerations for successful convergence as well as recommendations for implementation.
The white paper, “Multimodal Payments Convergence – Part Two: Challenges and Opportunities for Implementation,” can be downloaded at https://www.securetechalliance.org/publications-multimodal-payments-convergence-part-two-challenges-and-opportunities-for-implementation/.
“Consumers have come to expect simple, convenient modes of payment; this is no exception in the transit industry. By providing integrated payment options across different modes of transportation, transit agencies can provide travelers with a more seamless experience with all the mobility services they use,” said Randy Vanderhoof, executive director of the Secure Technology Alliance. “This white paper provides the transit community with the information necessary to understand the challenges and opportunities of multimodal payments, and also provides actionable guidance for implementation.”
This white paper:
- Describes alternative visions of multimodal payments
- Outlines the drivers and benefits of payments convergence
- Explains potential barriers to implementation
- Provides suggestions to achieve payments convergence
Part one of the multimodal payments series describes emerging types of payments convergence with real-world use cases from the Chicago Transit Authority, Dallas Area Rapid Transit, Los Angeles County Metropolitan Transportation Authority and other regions. This resource was developed in a collaboration between the Secure Technology Alliance Transportation Council and the Association for Commuter Transportation and can be downloaded at https://www.securetechalliance.org/publications-multimodal-payments-convergence-part-one-emerging-models-and-use-cases/.
Tweet This: Interested in multimodal #payments convergence in transit? @SecureTechOrg outlines opportunities/challenges & provides implementation guidance in new resource: https://www.securetechalliance.org/publications-multimodal-payments-convergence-part-two-challenges-and-opportunities-for-implementation/
Additional Transportation-focused Updates from the Alliance
- The Secure Technology Alliance is hosting the 12th Annual Payments Summit March 11-14, 2019 in Phoenix, Arizona. The event will feature a transit-focused roundtable on day one, and a transportation payments track on day two. Attendees can also benefit from discussions on FinTech, EMV chip technology, mobile wallets, NFC, contactless and more. Additional information is available at https://www.stapayments.com/.
- In November 2018, the Secure Technology Alliance Transportation Council and S. Payments Forum Transit Contactless Open Payments Working Committee hosted a Transit Payments Workshop in which multiple transit agencies noted that they have implemented or are planning to implement contactless open payments and contactless fare media. The transit agencies agreed that customer training and education were critical to successful launching. The workshop concluded with a consensus that mobility services and multimodal payments convergence are key objectives for transit organizations and other transportation services, and that the shift to account-based systems by many transit agencies is facilitating this convergence.
- The Secure Technology Alliance Transportation Council has updated their charter to promote the adoption of interoperable payment systems for transit, tolling, parking and evolving mobility services and technologies. Its goal is to help accelerate the deployment of standards-based secure payment programs within the transportation industry by engaging in projects that support transportation organization implementation goals for integrated payment systems and mobility as a service.
About the Secure Technology Alliance
The Secure Technology Alliance is the digital security industry’s premier association. The Alliance brings together leading providers and adopters of end-to-end security solutions designed to protect privacy and digital assets in payments, mobile, identity and access, healthcare, transportation and the emerging Internet of Things (IoT) markets.
The Alliance’s mission is to stimulate understanding, adoption and widespread application of connected digital solutions based on secure chip and other technologies and systems needed to protect data, enable secure authentication and facilitate commerce.
The Alliance is driven by its U.S.-focused member companies. They collaborate by sharing expertise and industry best practices through industry and technology councils, focused events, educational resources, industry outreach, advocacy, training and certification programs. Through participation in the breadth of Alliance activities, members strengthen personal and organizational networks and take away the insights to build the business strategies needed to commercialize secure products and services in this dynamic environment.
For more information, please visit www.securetechalliance.org.
¹ The integration of payment services for any type of transportation