Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Finance

PLANES, TRAINS AND AUTOMOBILES – VISA LAUNCHES PROGRAM TO GIVE CONSUMERS A BETTER TRAVEL EXPERIENCE

PLANES, TRAINS AND AUTOMOBILES – VISA LAUNCHES PROGRAM TO GIVE CONSUMERS A BETTER TRAVEL EXPERIENCE

Visa launches Transportation Center of Excellence to reimagine payments for all parts of the journey – from parking and refuelling to travel by air and rail

Visa (NYSE: V) today unveiled a new program focused on giving consumers a better experience for any mode of travel, whether by air, rail or car.  By engaging directly with airlines, transit operators, car manufacturers, rental companies, parking and fuel providers, Visa can help create innovative solutions that integrate new and emerging technologies into every kind of journey.

The Transportation Center of Excellence is a global service that brings together the power and scope of Visa’s programs including the Visa Developer Platform, Visa Token Service, Visa Ready for Transit and Visa Global Transit Solutions with its global network of Innovation Centers and Studios.

Bill Gajda, SVP, Innovation and Strategic Partnerships at Visasaid, “Today’s consumers simply want get to their next destination quickly and easily – whether commuting to work or going on holiday. Unfortunately, purchasing tickets, paying for parking or filling up the car is often inconvenient, involving long lines, complicated ticketing machines and outdated transit systems. The Transportation Center of Excellence examines how new technologies can transform the consumer experience by using digital credentials to make it easier for travel and transportation providers to seamlessly integrate payments into the customer journey.”

IMPROVING THE JOURNEY

Building on Visa’s experience in working with transportation companies such as Transport for London and Uber, Visa’s Transportation Center of Excellence is designed to improve the consumer journey. As part of the new program, Visa is hosting co-creation sessions at its Innovation Centre in London with its partners in transportation, banking, and retail – with the goal to remove friction in travel and create new and easier ways consumers can access and pay for transportation. Applying human-centred design, the program incorporates new and emerging technologies to develop capabilities in key transportation sectors, including:

  • Car – According to the Business Intelligence Connected Car report, there will be more than 293 million connected cars on the road by 2025, which is why Visa is working with several of the world’s largest manufacturers to look at ways to safely and securely embed payments in on-board computer systems.  Early use examples include paying for fuel, food and insurance.  As consumer behaviours continue to change, future use cases may include using Visa credentials for ride sharing, insurance by the mile, and electric car recharging on the go.
  • Parking – Traffic congestion worldwide is leading to the creation of more efficient ways to manage parking and transportation. In our innovation centre in London Visa is collaborating with start-ups and fintechs to implement new technologies that can help remove the pain points of finding and paying for parking.
  • Public Transportation –  Research from the United Nations predicts that 66 percent of the world’s population will live in urban areas by 2050, making the growth of smart and efficient mass transit more important than ever.  Visa’s Global Transit Solutions which is already focused on implementing contactless payments as an everyday way to simplify commuter travel.  At the same time, Visa is also looking at what the next generation of public transportation can look like, where location services, Bluetooth and biometrics can make the journey even easier.
  • Air – Visa has hosted co-creation sessions with the industry’s largest airlines,  collaborating with them to address the consumer journey starting with planning, ticketing and in-flight experiences enabled through new technologies like virtual reality.

Gajda continued, “Visa has created a collaborative environment that enables developers to reimagine the consumer journey across any mode of transportation they take along with the building blocks to make that vision a reality. Through the Visa Developer Platform, they can select from a broad range of APIs (Application Program Interfaces) and SDKs (Software Development Kits) to create the next generation of commerce applications.”

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post