The new contactless payment platform is expected to take the mass transit experience to another level
Visa, the global payments technology company, has reportedly signed an agreement with the Brazilian smart cards & telecom solutions developer, Planeta Informatica, to launch a new technology platform known as Visa Secure Access Module (SAM). Reports claim that SAM will allow public transit systems to switch to much faster contactless payments. Reportedly, the two companies will bring out the platform in April this year, on the Metro Rio System, Rio de Janeiro.
Sources reported that with the latest move, the public transit systems will be allowed to convert to contactless cards, wearables or other systems, with no costly changes to the existing terminal hardware or replacing turnstile systems. The Visa SAM system deploys the existing EMV technology for the incorporation of the system into the current systems, helping save customers their time and money, they added.
According to the Financial Post, Visa, with over 150 transit projects presently underway, continues delivering convenient, faster and more secure rider experiences, with the contactless payments shaping the future of mass transit across major cities in the world, helping riders evade the tiresome process of standing in queues or re-loading tickets. The Visa SAM is allegedly the first-of-its-kind technology emerging in the transit industry, which will be available to all Visa Ready technology partners and will facilitate software companies and other transit hardware to integrate it into their offerings.
Nick Mackie, Global Head of Urban Mobility, Visa, was quoted saying that the current move is a transformational development for all public transit operators intending to improve customer journeys and operational costs by eliminating the requirement for topping up fare cards or tickets.
Artur Costa, Planeta Informatica CEO, recently affirmed that the new Visa SAM technology combines the state-of-the-art MTT (Mass Transit Transaction) framework with 15 years of the firm’s experience in public transportation. MTT for the record was released by Visa in 2017.