MasterCard recently released a survey by Harris Interactive showing that consumers are ready for innovative payment methods at mass transit systems.
“The grind of the daily commute should not be compounded by the way you pay just to ride mass transit,” said Catherine Murchie, senior vice president of MasterCard Worldwide. “From our survey, we know that commuters want a better way to buy their fare and open-loop contactless payment options.”
The study found that 65 percent of mass transit users who usually pay with cash worry about not having enough money for their fare. It turns out those fears are valid for many riders – more than one-third reported they have been unable to take mass transit because they didn’t have enough money.
In addition to providing riders with a greater sense of security in their ability to pay, contactless cards could also save valuable time for those who reported missing a bus or subway because they had to buy a ticket or put money on a fare card – 44 percent of respondents. Riders estimated they could save 11 minutes on their commute every day with a contactless card system in place of mag-stripe cards and a credit card terminal.Back To Blog