The Halifax council recently made some upgrades to its transit system, with a new proposal with four payment possibilities. These include "reloadable plastic cards, limited-use smart cards that come with a designated amount of rides, a mobile app, and tapping credit or debit cards."
The new plan allows users to purchase tickets or passes through an app on their smartphone. A large, virtual ticket will be then be displayed on their mobile in which they can use in lieu of a paper transfer. These tickets can be activated, after purchasing, without data or Wi-Fi. Eventually, the plan will feature automate mobile ticket validation and "a tap-to-pay system using just a credit or debit card."
The new transit payment plans hope to be cash-free by 2025, however, accessibility is still being addressed for those without a bank card of mobile phone.
Smartphone Transit Fares
Halifax Council Approves Plan to Pay Transit Fares with Smartphones
Trend Themes
1. Smartphone Transit Payments - The trend of using smartphones to pay for public transportation is disrupting traditional payment methods and creating new opportunities for mobile payment technologies.
2. Mobile Ticket Validation - Mobile ticket validation is a growing trend that is making public transportation more efficient and convenient, with opportunities for further advancements in automation.
3. Cash-free Transit - Cities around the world are moving towards cash-free public transportation systems, creating opportunities for mobile and alternative payment technologies.
Industry Implications
1. Mobile Payment Technology - Mobile payment technology companies are positioned to capitalize on the trend of using smartphones to pay for public transportation and the shift towards cash-free transit.
2. Public Transportation - The public transportation industry is ripe for disruption and innovation, with opportunities for companies to create new and more efficient ways to handle ticketing and payments.
3. Banking and Financial Services - As cash-free transit becomes more prevalent, there is a growing need for alternative payment methods and banking services for individuals who do not have bank cards or mobile phones.