Latest eBook discusses the benefits of a national, low-value payment infrastructure
FIME has published an eBook that details the significant value of implementing an open, EMV®-based transport ticketing system in India. The transport and payment consultancy believes that the approach would establish an infrastructure that supports seamless and efficient multi-modal urban travel, as well as low-value retail payments. FIME’s eBook, entitled ‘Transport ticketing in India: how to create a sustainable ecosystem’, can be downloaded without charge from the FIME website.
“Growing urbanization in India places considerable pressure on public transport infrastructures. Extensive multi-modal and multi-operator networks, incorporating metro, bus, train and ferry, meet this ever-growing demand. This fragmentation, however, is creating a highly complex transport fare collection system,” comments Prakash Sambandam, Vice President – South-East Asia at FIME.
The eBook from FIME proposes that this complexity can be mitigated by integrating payment collection across different modes, organizations and regions. Any specification selected should also maximize opportunities to support low value retail transactions in line with consumers’ increasing desire to make contactless and mobile payments and the government’s move from a cash to a card society. Other applications such as loyalty and identity should also be reflected.
In this eBook, FIME details the strong commercial and technical case for the system to be based on EMV Specifications. In addition to the current EMV banking migration taking place in India, this technology foundation offers security, supports multiple transaction types and is continually evolving to align with contactless and mobile operations. This will ensure smartphone and connected device use in the future.
Concluding, FIME highlights that successful implementation would be dependent upon extensive pre-launch testing to ensure interoperability, security and reliability.
To read the full eBook – which details the current market needs, how EMV Specifications meet these requirements and the next steps – download it free-of-charge from the FIME website.
FIME India has proven EMV and transport expertise to support stakeholders in maximizing the benefits of their involvement in a project of this nature. It offers secure chip-based application, token and device strategic consultancy and implementation support. The operation also provides extensive testing and certification tools and services that support multiple industries and their respective standards.