This aspect of AFC is gathering pace."Smart Card Alliance White...

This aspect of AFC is gathering pace.

"Smart Card Alliance White Paper Examines Convergence of Contactless Financial Payments and Transit
PRINCETON JUNCTION, NJ -- (MARKET WIRE) -- October 09, 2006 -- Wouldn't it be convenient if you could pay for your subway or bus fare with your contactless credit or debit card, the same way you pay for fast food or groceries? A new white paper from the Smart Card Alliance Transportation Council, "Transit and Contactless Financial Payments: New Opportunities for Collaboration and Convergence" examines trends in both the financial payments and transit industries and discusses how the two industries could work together to make this a reality. The white paper is available at no charge from the Smart Card Alliance web site at www.smartcardalliance.org.
The financial payments industry and transit agencies are moving towards contactless smart card technology. In the payments industry, consumers can use their ExpressPay from American Express™, MasterCard® PayPass™ or Visa Contactless cards or devices anywhere contactless payment is accepted. Soon, some mobile phones may be equipped with compatible contactless technology to be used in the same way. Transit agencies are issuing their own contactless smart cards as a fare medium that typically includes features specifically associated with transit. The white paper looks at new financial industry directions and transit industry requirements to assess how the two industries might collaborate to combine the best of both worlds. It also presents the key considerations for implementing a payment model where transit agencies can accept contactless financial payment cards directly.