![]() The chip securely stores information about the payments application and performs cryptographic processing. The payment processing fee is passed to the transit merchant through the acquirer.Īn EMV payment system uses a microprocessor embedded in a plastic card or a mobile device to connect to an EMV point-of-sale (POS) via a contact or contactless interface. The introduction of payment cards helps transit authorities save costs by eliminating the cost of issuing cards as well as issues raised around the management of a proprietary system. The reader and middle-office models can also work offline but they may need occasional network access to pass data, such as hotlists to manage fraud and payment card authorisation requests. The primary benefit of the card-based mode is to operate completely offline. Conversely, complex transit agencies can use the authenticated tap as an ID and perform delayed online authorisations and aggregations. For example, machines can be installed on buses to authorise simple and fixed fares against the balance on the card. Once EMV technology is available to transit operators, a number of model options become available to meet fare policy requirements. ‘Pre-issued’ media such as bank credit or debit cards make use of a device that passengers already carry and that is fully interoperable worldwide. This improves passenger convenience and reduces the card-issue and management cost for transit authorities. With the introduction of contactless payment cards by banks, transit authorities are finding it attractive to adopt EMV-enabled bank cards in an open payment system whereby the cards are directly used for fare payment. Transaction speed and customer convenience are priorities for public transport operators. Several technologies exist that can be used in automatic fare collection (AFC) systems, ranging from paper tickets, smart cards, mobile phones and identity (ID) cards. Public transport operators are keen to maximise revenues and generate increases in ridership by making fare payment simple and convenient for passengers. Deploy local or closed-loop payment services, i.e., services not branded by international payment schemes.Manage the issuer’s exposure to fraud by limiting cardholder spend per day, per country or per transaction type (PIN, signature, or contactless) or simply by disabling the application over the air.Remotely identify and authenticate the cardholder, make local or remote payments and deliver loyalty and couponing.There is no need for expensive infrastructure to reload the cards as the information is held in a central account and not locally on the cards.ĮMV provides the following functional capabilities: It opens the door to a range of innovative secure payment and identity solutions across multiple platforms, whilst offering widely available and low-cost infrastructure through which to deliver complementary services. ![]() EMVCo and the specifications can be found at EMV is more than secure retail payments. The EMV standard is currently managed by EMVCo LLC, which is equally owned by American Express, JCB, MasterCard and Visa. The term refers to Europay, MasterCard and Visa, the three organisations that originally developed the specifications in 1994. EMV in public transport: Need and benefits September 1, 2014ĮMV is the technical standard that ensures chip-based payment cards and terminals are compatible around the world.
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