IBA Group Launches Contactless Fare Payment by Bankcards in Chisinau
IBA Group proceeded with the expansion of IBA Fare Collection (AFC) system. Following the successful implementation of IBA AFC in Eastern Europe, the company implemented its tapXphone solution in Chisinau, the capital of Moldova. IBA Group completed the project in record time. IBA Group implemented this pilot project in Moldova in cooperation with Visa, Victoriabank, the Chisinau Municipal Council, and local carriers.
The IBA’s tapXphone solution allows for paying and accepting fares without any additional hardware like validators or POS terminals. The solution turns a regular smartphone with NFC into a payment terminal. Tapping an NFC-enabled device at a conductor’s smartphone, a passenger can pay for a trip in seconds. Passengers can pay fares by bankcard, phone, smartwatch, fitness band, or other NFC-enabled mobile devices.
The procedure is similar to the one implemented in Eastern Europe. Passengers do not need to download any applications. The operation takes place in a split second. The indicators on the fare collector’s smartphone light up and a till slip evidencing successful payment appears on the screen. If needed, one can take a photo or send it to any phone number.
As for transport carriers, they do not need to purchase points of sale (POS). Using smartphones as payment acceptance devices, they can simplify fare collection and payment processing, as well as reduce the costs associated with the development of transport systems.
Our experience with the introduction of these payment systems shows that passengers are happy to pay for trips using familiar contactless methods, such as bankcards, smartphones, or wristbands. The technology is also convenient for transport carriers. It is faster and easier for them to implement tapXphone than to equip transport vehicles with new devices.
Victoriabank is the only bank in the Republic of Moldova to have invested in NFC technologies by developing its own electronic wallet.
Now we are launching tapXphone that will greatly simplify card payments. This is what we really need in a world of constant motion.
Earlier, IBA Group and Visa implemented contactless fare payment without validators in public transport, where all city bus routes are equipped with smartphones.
Talk to IBA Group about how your business and your customers can benefit from our SMART contactless payments solutions.