Visa, in partnership with Planeta Informatica, has launched a new technology to enable the public transit operators implement cost-effective contactless payments.
Dubbed Visa Secure Access Module (SAM), the new technology will enable the transport operators worldwide to accept payments through a contactless card, phone or any other wearable devices.
Based on EMV contactless technology, the Visa SAM can be directly installed into existing transit payment systems.
The solution is expected reduce implementation time and associated costs, as well as eliminate the need to replace current turnstiles or terminal hardware.
The Visa SAM is available to all Visa Ready technology partners.
Visa global head of urban mobility Nick Mackie said: “This is a transformational development for public transit operators that want to improve their customers’ journeys and reduce their operational costs by removing the need for tickets or topping up fare cards.
“Through our work with Planeta Informatica, we have pioneered a way to accelerate the shift to contactless transit that is scalable and highly secure, while generating time and cost savings for transit operators by removing the hurdles of replacing potentially thousands of transit readers across the transport system.”
Visa and Planeta Informatica partnered with Ingenico Group to implement the Visa SAM technology for Metro Rio, in Rio de Janeiro, Brazil in late April.
Metro Rio will be the first transit operator to roll out contactless payments based on Visa SAM technology.
Last month, Visa reported a net income of $2.97bn for the first quarter of fiscal year 2019, a rise of 18% year-on-year.