Transit Agencies Must Get on Board with Open-Loop Fare Payment

To Stay in the Game, Transit Agencies Must Get on Board with Open-Loop Fare Payments

In a recently published paper entitled “Reimagining ridership: Open-loop payments and the future of urban mobility”, Visa presents the results of an extensive survey of 75 transit agencies and 3,000 riders in cities throughout the world.

Open-Loop Fare Payment

One of the key takeaways for transit agencies? Contactless open-loop payments result in better performance metrics.

Better Metrics = Positive Ridership Growth

The surveyed agencies pointed to increased rider throughput and rider satisfaction as the two greatest performance improvements arising from use of an open-loop ticketing system. They also reported better on-time performance, a greater farebox recovery ratio, and reduced vehicle dwell times, all of which make public transit more attractive to potential users.

Not surprisingly then, approximately 80% of the agencies already running an open-loop fare collection platform have seen an uptick in ridership following implementation. Of those that have yet to adopt an open-loop system, 83% say they will do so in the near future.

Open-Loop Payments for a Seamless Ticketing Experience

Contact the team at Switchio Transport to learn how its unique open-loop payment solution is helping transit agencies around the world achieve a seamless ticketing experience for their riders.

This article was originally published by Switchio.

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