Metro is in the process of replacing all existing rail TVMs as a part of its Universal Fare System (UFS) implementation. Additionally, with the new TVMs, customers will have the ability to purchase transit passes and to reload their Transit Access Pass (TAP) stored value cards.
"Customer convenience is very important to Metro and an essential element of our new Universal Fare System. Over the years, weâve seen an increasing number of consumers preferring to use debit and credit cards versus cash for purchases," said Terry Matsumoto, executive officer, finance at Metro. "Through this expanded partnership, Metro can offer its passengers another convenient payment option when purchasing tickets. We anticipate seeing improvements in our ticket sales as well as a reduction in the costs associated with handling cash."
In 2002, the Metro signed an agreement with Metavante to issue reduced fare passes, which includes a web-enabled database, cardbase management, data entry, card personalization and fulfillment services. These products support a reduced fare program focused on students, senior citizens and disabled persons.
"Metro has taken decisive steps in implementing improvements and innovations surrounding its payment processing technology and Metavante has been successful in helping them achieve this," said Frank DâAngelo, senior executive vice president and group executive, Metavante Payments Solutions Group. "Metavante looks forward to continuing a very successful relationship with Metro and achieving our overall goal of improving efficiencies for the transportation industry and its consumers who use it on a daily basis."
Metavante is a leading provider of electronic funds transfer (EFT) and card solutions including debit, prepaid debit, and credit card account processing, card personalization, ACH processing, ATM driving and monitoring, gateway transaction processing, merchant processing, transportation payment solutions, healthcare identification card fulfillment, and flexible spending account processing. Metavante provides EFT and card services to over 2,200 financial institutions, transportation agencies, and health insurance companies in the United States. In addition, over 2,150 clients participate in the NYCE Network, which is owned by Metavante Corporation.