Ingenico and Paragon ID Team Up on Open Payment Project
Ingenico and the identification specialist Paragon ID team up on developing an open and innovative payment solution for the transport industry.
Goal: Implement a solution for managing transport tickets, payment cards and smartphones from a single reader.
This partnership is in line with the rollout of Ingenico’s new Open Payment solution OP2GO for ticketing platforms.
Paragon ID will be providing their know-how in managing and developing transport software applications, cards, paper-based and mobile ticketing. Ingenico will integrate this know-how in their OP2GO Open Payment terminals.
How it works. Ingenico’s next generation NFC readers (Open/1500 and Open/2500) easily integrate with bus and tramway validation systems, gates and turnstiles. These readers are compatible with all NFC-enabled devices (payment cards, transport cards and smartphones).
This solution would ensure
Easy integration into embedded validators and gates
Compliance with payment industry security protocols
Interoperability with all payment and transit schemes
Compliance with transportation standards and protocols
Towards globalisation. The use of contactless payment cards as ticketing solutions has been gaining momentum globally. Open Payment should soon become a standard for urban transportation services. Ingenico bets on this trend through providing acceptance services for payment cards and transport cards based on a single terminal.
An all-in-one solution. Besides the public transport sector, this solution should also meet Smart Cities’ multimodality requirements and address their demand when it comes to new means of transportation.
Improving travellers’ experience. With this solution, travellers would not need to sign up beforehand. They only have to tap their payment card or mobile phone to the validation terminal when stepping in and out of the bus. Their fare is then calculated automatically.
In addition to improving customer experience, this system would also help transport operators increase ridership numbers while improving operational efficiency: transaction processing costs could be four times cheaper than typical tickets issuing costs.
In January, Ingenico said they intended to expand their offer through the addition of an Open Payment solution for the public transport industry. They can already count on several partners, including Paylib and OpnGo.
Several other market players have been focusing on this sector. Three months ago, Visa announced a partnership with Planeta Informatica on launching a universal contactless payment system for transport operators.