Thursday, July 7, 2022

The Future Of Transit Payments Is Here

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Fintech company, Bleu Australia is set to help revolutionize the way people pay for their private and public transport. 

As cash becomes redundant and contactless payments rise in this post-COVID world, Bleu Australia Managing Director, Cameron Ross says there needs to be more innovative technology for transit payments which don’t solely rely on tap-and-go cards, or traditional cash and Eftpos payments.  

‘’It was a big change when buses, ferries and trains went cashless, introducing ‘’tap-and-go’ cards. Still to this day, many are left stranded due to no longer accepting cash. They are left to find a ‘tap-and-go’ card close by or not ride at all. It becomes rather painful particularly for tourists who may only need to ride once or twice, Ross says’’ 

‘’Tap-and-go cards were introduced over a decade ago, yet despite the rise in technology, it remains one of the only more advanced payment technologies available in transit.’’

‘’Transit payments in Australia needs innovation, bringing it in line with today’s technology, and offering more seamless payments for customers now, and well into the future.’’

‘’Despite much innovation in payments technology today, many outcomes fail to make a big impact on the day-to-day lives of the end user. Until now, payments technology has focused on building on what’s already available rather than inventing something new.’’

New Payments Platform NPP,are currently developing the new PayTo payment technology which, with the help of Bleu Australia and Zepto could be rolled-out as a solution in the transit space. 

PayTo is a new ground-breaking payments technology concept by NPP that has the potential to truly revolutionize the payment experience for everyone in the future.

It allows consumers to agree to pay on a once-off or recurring basis from an enabled mobile app or wallet.

‘’At Bleu, we believe the next generation of payments will move into the background rather than every transaction needing to be authorised for certain purchases.’’

‘’If we apply PayTo technology to transit payments, a PayTo authority would be stored in your mobile wallet, provided by your bank or mass transit app such as Opal Travel, which, coupled with Bleu’s proximity technology, would allow you to step onto a bus, train, or taxi without the need to swipe your ‘tap-and-go’ card, worry about topping up your account online, or paying the taxi driver directly.’’ 

‘The technology would only require you to have your mobile phone on you, in your pocket or your bag.

‘’It has the potential to greatly innovate the way consumers make payments and it provides a more seamless transit authority across all forms of transport including bike hire, scooters, ride share, buses, trains, ferries, in-flight entertainment, and even parking.’’

‘’It allows the customer to pay the same way anywhere they travel without having to get out their phone, cards, or cash for payments again. Simply walk on and off trains, buses, and ferries without even thinking about payments or how they’re being made.’’

‘’PayTo is real innovation that improves the customer experience,’’ Ross says.

Zepto’s Head of Customer Experience, James Harvey says Bleu Australia’s payments and proximity technology will help deliver PayTo for the transit industry. 

‘’With Bleu’s customer-centric technology connected to PayTo, payments become almost imperceptible, embedded within the trusted relationship a customer has with a brand or business, Harvey says.’’

‘’This delivers a consistent and effortless payment experience for consumers regardless of the context, whether that be online or in the physical environment.’’

‘’PayTo uses the customer’s own money from their own bank account, ensuring they are always firmly in control. In the background, technology does all the heavy lifting, bringing the payments experience in-line with customer expectation, real-time and frictionless with unparalleled security.’’

Bleu

’Find out more at https://www.zepto.com.au/ and https://www.bleuco.com.au/

The TBN team is a well establish group of technology industry professionals with backgrounds in IT Systems, Business Communications and Journalism.

Editorial Team
Editorial Team
The TBN team is a well establish group of technology industry professionals with backgrounds in IT Systems, Business Communications and Journalism.

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