Switchio, a Mastercard Certified Transit-Ready Partner

Switchio, a Mastercard Certified Transit-Ready Partner

  • Accelerate the transition to cEMV payments in public transportation

Mastercard’s Transit Partner Program is an extensive global network of urban mobility experts and technology providers working within a framework of established global standards to accelerate the adoption of contactless EMV payments in public transportation by removing barriers to implementation.

The Czechia-based firm Switchio develops an innovative payment gateway that saves transit agencies considerable financial resources by enhancing their rider experience with modern contactless payment options. The solution is designed to let transit agencies move from a closed-loop system to a fully operational open-loop fare collection infrastructure complete with PCI DSS certification within as little as three months.

Helping Transit Agencies Overcome Challenges So They Can Focus On Moving People

Existing fare management and collection systems are costly, and the infrastructure underpinning them is difficult to future-proof. Moreover, they present many unnecessary barriers to rider convenience, such as overly complex ticketing options, long queues at peak hours, delays due to excessive dwell times (i.e. vehicles having to wait at stops as passenger transactions are processed), and a lack of interoperability with third-party service providers.

By tapping into Mastercard Transit & Mobility Solutions, agencies gain access to innovative solutions such as Switchio’s all-in-one cEMV payment platform, delivering a wide range of benefits:

  • Higher revenues: Sustainable ridership growth / Increased travel frequency
  • Greater speed & security: Less congestion, fewer delays during rush hour / Significantly reduced risk of fare evasion
  • Lower operating costs: No cash and coin handling costs / Smaller transaction fees through aggregation
  • Enhanced image, better rider outlook: Digital tickets are more eco-friendly than paper tickets / Superior ridership tracking and reporting capabilities

A Holistic Approach to Cities

Mastercard’s transit and mobility network brings together technology leaders from across the urban transit ecosystem who understand that public transit users are not mere riders but are also residents, schoolchildren, parents, business owners, and tourists who must interact with multiple civic services every day. Mastercard certified transit-ready partners are an essential component in a unique holistic approach to cities designed with a primary focus on people and the community to bring about greater financial inclusion, community reach, and engagement while making essential everyday services as accessible and convenient as possible.

Jaroslav Stuchlík, who heads Switchio’s transport and parking division, sees immense value in this type of network:

“Technologies that enable contactless open-loop payments are already changing the lives of millions of commuters worldwide. Giving transit agencies a comprehensive selection of the best technologies certified by Mastercard is fundamental to accelerating the adoption of cEMV payments in public transport. Switchio is proud to be part of it.”

About Mastercard Transit & Mobility Solutions

Mastercard has more than a decade of experience engineering innovative urban mobility solutions and reshaping public transit experiences. Certified partners from across the ecosystem adhere to global standards to accelerate the adoption of contactless payments in public transportation. Cities and transit agencies turn to this robust network to address challenges in realizing efficiencies, supporting public health and safety, and providing new levels of convenience for transit users.

This article was originally published by Switchio®.

source= https://railway-news.com/switchio-a-mastercard-certified-transit-ready-partner/

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