Fintech News

TransLink to Integrate Interac Debit into Tap to Pay

TransLink to Integrate Interac Debit into Tap to Pay

TransLink customers will soon be able to use Interac Debit to hop on transit. TransLink, Interac Corp., and Cubic Transportation Systems are working together to integrate Interac Debit onto the system to give customers more contactless payment options.

Latest Fintech Insights: Paysafe Integrates with IATA Financial Gateway to Give Airlines Greater Payments Choice

By the end of 2022, TransLink customers will be able to pay with Interac Debit at Compass readers on any bus or fare gate across the system. This puts TransLink on pace to be the first transit agency in Canada to fully integrate Interac Debit contactless payments across a regional transit system.

Tap to Pay offers casual transit riders and tourists a convenient way to pay; allowing users to pay with Interac Debit directly to ride without pre-purchasing a Compass Card and without having to use an in-station Compass Vending Machine. The addition of Interac Debit will further broaden options and convenience for TransLink customers.

Over 5,000 Compass readers across TransLink’s expansive network will need to be upgraded to ensure compatibility with debit cards enabled with Interac Debit contactless payments.

TransLink, Interac, and Cubic Transportation Systems – the company that designed and built TransLink’s Compass system – are working to upgrade the readers over the next year.

Once integrated, customers will be able to pay at Compass readers by using Interac Debit, in addition to other already available contactless payment options like Visa, Mastercard, American Express, Apple Pay, Google Pay, and Samsung Pay Wallet.

TransLink reminds customers to please tap their card or smartphone when paying for transit and not their wallet, to avoid card clash when paying.

Browse The Complete News About Fintech : Credit Clear Unleashes Innovative Data-Driven Repayment Solution Powered by Sisense

Quotes:

Kevin Quinn, CEO, TransLink –
“Integrating Interac Debit contactless payments across our system in Metro Vancouver is another way we’re making it easier for customers to take transit. TransLink was the first transit agency in Canada to commercially launch contactless credit card and mobile payments, and it’s important that we continue to be innovative to make transit an even more attractive transportation option.”

William Keliehor, Chief Commercial Officer, Interac Corp.–
“Partnering with TransLink to add Interac Debit contactless payments to Metro Vancouver’s transit fare reader system is the next big step to providing added convenience to all transit riders in the area. By offering Interac Debit, a form of payment that millions of Canadians already use for day-to-day purchases, transit authorities like TransLink are giving riders a contactless digital payment option which can help with the responsible post-COVID-19 recovery of transit networks in cities across the country.”

Matt Newsome, Senior Vice President and General Manager, CTS Americas –
“Since May 2018, customers have been able to pay with their contactless Mastercard and Visa credit cards on the Compass system, with American Express introduced in 2019, Interac Debit is the next step in the open payment evolution for Metro Vancouver transit riders. As a contactless debit system, Interac Debit is critical to maintaining social equity as an accessible form of payment for customers that do not have access to a credit card.”

Read More About Fintech News : Lanka Premier League Partners with Cricket NFT Platform Rario (PRNewsfoto/Rario)

 [To share your insights with us, please write to sghosh@martechseries.com]

Related posts

Zest AI Secures Investment From Insight Partners To Accelerate Adoption Of Fairer And More Transparent Credit Underwriting Software Across Enterprise-Grade Lending Operations

Fintech News Desk

OneStream Software and PwC Italy Announce Partnership to Drive Digital Finance Transformation in Italian Market

Fintech News Desk

BDev Ventures Invests in Piñata to Help Renters Build Credit

GlobeNewswire
1