Payments technology company Peppercoin has teamed up with contactless smart card technology firm On Track Innovations to launch a prototype contactless mass transit fare collection system in the US.
Peppercoin said its unique prototype system allows transit passengers to use their preferred credit or debit card as a ride pass, rather than purchasing a separate specialized transit pass.
Passengers can also use the system to prepay for multi-ride, season or period passes, which can be virtually loaded onto the rider’s credit or debit card. The card can then be automatically replenished similar to toll collecting systems such as EZPass.
Explaining the vision he has for the system, OTI’s president Ohad Bashan said: Combining OTI’s contactless products with Peppercoin’s ability to process small payments, provides a quantum leap in convenience for transit riders, while reducing costs for operators. It will help reduce bottlenecks as people enter the subway or board the bus.