Waltz, a New York City-based digital payment systems startup, has secured strategic investment from Outfront Media, an outdoor media company.
Waltz is currently designing a mobile-focused transit fare payment system that will offer a secure and efficient transaction between any smartphone and turnstiles, buses or platform validators.
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The new solution is intended to integrate with other large-scale payment system providers and third-party vendors.
Outfront in a statement said that it believes next-generation mobile payments at subway system turnstiles can create new ways for transit advertising partners to attract audience attention. It will also provide an easy payment solution for all future transit commerce opportunities.
Outfront Media executive vice president for strategic planning & development Andy Sriubas said: "Our investment in Waltz furthers OUTFRONT’s mission to continue to enhance the transit ecosystem, benefiting municipalities, riders, and advertising partners. We’re thrilled to work with Waltz to help operators revolutionize the transit experience."
Waltz founder and CEO Matt Kopel said: "OUTFRONT’s support and vision for a holistic digital experience in the transit environment will advance our progress toward bringing this exciting mobile payment solution to transit systems.
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By GlobalData"With OUTFRONT’s extensive transit advertising experience and their innovative ON Smart Media platform, we are one step closer to creating a more convenient, seamless and secure passenger journey."
