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| Subject: RATP, the main transit operator in Parisbusiness caseOctopus | |
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Author: Bramblesradio-frequency cards |
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Date Posted: 12:10:13 01/24/03 Fri pourquoi5 (ID#: 224751) Contactless Cards The Way to Go 25/1/03 1:13:31 AM 5958622 « Previous Message Next Message » If you dig through some posts about a month ago you will see how McDonald's has accepted the idea of credit cards in its restaurants and that contactless payment tests have been underway for some time with fast food resto's.It is worth noting that Catuity has always said it operates on contactless systems as well. Contactless Cards 'Meet Industry's Needs' American Banker Jan 24 2003 : The contactless card market will grow by a CAGR of 47 per cent through 2007, Datamonitor reports, while radio-frequency cards will comprise 5.6 per cent of the USD 7.6 billion smart card market by 2006. In fact, “payment cards in major markets like the US and Japan may [leapfrog] to pay-and-go cards, skipping the conventional contact card”, according to Card Technology, as “contactless cards are comparable to contact cards in security”. RATP, the main transit operator in Paris, an issuer of contactless cards, is now seeking to partner with local banks to allow commuters to top up value on their cards on ATM networks. Microprocessors embedded in contactless cards provide the kind of security level required by banks, advises RATP’s Patrick Docquirer, who notes that “if banks have a microprocessor, RATP needs it”. To give context, “if you want to share a card with different applications and reload it remotely”, argues Docquier, “you need a higher level of security [as] it’s a race with fraudsters”. Transit operators stand to derive sizeable cost savings from contactless systems, which require annual maintenance costs of USD 75 per reader, versus USD 360 for a mag-stripe reader, Docquier asserts, as less data is captured in a payment. Contactless cards could [also] be poised for big growth in payment cards, as both Visa and MasterCard move aggressively early this year to offer their member banks contactless products”, Card Technology indicates. Visa, for one, sees fast-food restaurants as an optimal environment for contactless card use, according to Denny Jensen, of VisaSmart chip implementations. Visa cards with a contactless interface would similarly enable commuters to pay transit fares in cities where transit agencies accept contactless chip cards, the business case for which has been validated by Hong Kong’s Octopus multi-function card. « Previous Message Next Message » This message has been viewed times Report a BullBoards Violation Ignore pourquoi5 Post Reply View Threads [ Next Thread | Previous Thread | Next Message | Previous Message ] |