In the same way that contactless payments are morphing into the norm throughout retail outlets we begin to anticipate similar developments for public transportation with assurance that new payment methods are virtually ready to hit the roads (or tracks) alongside us. Based on the London Oyster Card system both bus and rail operators should soon be able to offer PAYG (pay as you go) devices. Which means that smartphones or contactless cards could be used to pay fares, alleviating the hassle of pesky printed tickets.
Supporting the possible transition to transportation, most banks now send out cards that are compatible with contactless technologies in masses. This includes new customers, upgrades and replacements. The likes of Google, PayPal have paved the way for other brands to follow suit. WEVE (who can reach 80% consumers via their phones) have proposed plans to emulate and build on previous successes joining up with MasterCard, announcing plans of installing SIM cards suitable for these payments into smart phones. Despite worries that contactless payments will increase the likelihood of fraud banks have assured a capped limit of spending without a pin, if the price exceeds a certain amount pin verification will be requested. Many companies now integrate payments with their own apps to offer customer service under their own branding. Almost attaching a primitive label to alternative forms of payment the notion towards Cashless transport is being strengthened by the likes of Apple Pay. Offering another method of topping up the Oyster Card.
This all begs the question, will the simple coin and note be ousted in the future?