Voice of the Industry

The value of digital payments in the transit and mobility sector

Tuesday 31 October 2023 08:55 CET | Editor: Irina Ionescu | Voice of the industry

Zoltan Gyenge, myPOS Managing Director DACH and Hungary, discusses how contactless payments help advance the transportation industry, improve passenger experience, and make cities greener.


The mobility sector has witnessed great transformation in recent years. New micro mobility options and public-transit changes were introduced in an attempt to increase efficiency, encourage ridership, and decrease urban pollution. Commuters began seeking more convenience, including less time waiting in lines and more payment options. 

The latter was accelerated by the COVID-19 pandemic, which changed how people pay and forced consumers to overcome their privacy-related fears. Today, consumers demand faster, more secure, and more hygienic payment alternatives, as they want to avoid multiple payment points and ticketing options. 

As a result, service providers in the mobility sector must ensure they are addressing all demands, including those related to payment technology, to deliver a convenient experience for the city rider. Mobility and fintech must go hand in hand to drive economic sustainability and make cities more livable, with better transportation options. This is how payment innovation can drive customer satisfaction and help service providers stay ahead. 


Tap-to-ride technology: With the wider adoption of digital payments, tap-to-ride addresses the evolving needs of commuters. Riders can tap their credit cards or mobile wallets to pay for a transit fare, which is more convenient than worrying about exact change or a topped-up transportation card. Travellers save time by avoiding the need to pre-purchase tickets or stand in line to reload travelcards. A great example of this solution is ÖBB (Austrian Federal Railways), using a SoftPOS that turns the devices of conductors into a POS terminal without the need for additional hardware. As a result, passengers can buy tickets directly from staff on the train.

Additionally, tap-to-pay is a great solution for bus transportation where one of the pain points experienced by commuters is the so-called dwell time – the time spent boarding and paying, which often leads to delays. Contactless payments shorten this time and also lower the buses’ carbon footprint because the vehicles with the highest emission are those with the largest amount of dwell time.


Smart, integrated cross-border solutions: A modern payment solution not only allows passengers to pay aboard conveniently by using cards and smart devices, but also helps workers accept payments across borders via proper connectivity of the POS device at all times. For example, by using card readers equipped with a free SIM card, transportation service providers can accept payments across Europe, so drivers don’t have to worry about changing card machines when collecting or dropping off their clients internationally. 

In addition to making fare collection easier and faster and improving the journey for all involved, modern payment solutions make app integration easy. From our work, we at myPOS, know that apps are a must for the taxi industry as drivers refer to them for information about trip details, bookings, train, and flight schedules. So, a smart device that’s connected to an app market makes the lives of drivers significantly easier because they don’t have to carry additional hardware. All in all, by using smart, Android-powered payment solutions, service providers can receive customisation and freedom and that’s where the future lies. 


Instant payouts: While instant payouts provide consumers with a clear overview of their funds and greater control of their finances, the benefits of business owners are greater. In the above example with the taxi industry, drivers can immediately use the transferred money to fill up their tanks or handle repairs. What’s more, instant payments give a boost to economic growth, as a result of greater capital availability. 

All these illustrations show how digital payments can bring value to the commuters, mobility service providers, and transit authorities. Thus, leveraging modern payment technology will help create rider-centric transportation options and make our cities more efficient. Payment providers, transport operators and city governments should work together to save time and cost, increase convenience, and offer more personalised services. 

About Zoltan Gyenge

Zoltan is an expert in cross-border payments. For four years, he’s been part of myPOS, the first and only fintech platform offering its clients instant payouts at no added cost. Zoltan’s team has been essential to growing the myPOS business in the DACH region and Hungary, partnering with companies such as Austrian National Railways (ÖBB), Samsung, Coca-Cola, and DPD. His previous experience includes Lycamobile, Farbax, and MTEL. 

About myPOS

myPOS is a powerful, all-in-one business platform for merchants of any type and size. It helps SMEs grow and better respond to future challenges by offering them ways to diversify their payment options, find the right digital tools, and sell across borders.

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Keywords: mobile payments, mobile money, SoftPOS, public transportation, contactless payments, online payments, digital payments, one-click payments, travel payments, COVID-19, Tap-to-Pay, cross-border payments
Categories: Payments & Commerce
Companies: myPOS
Countries: Europe
This article is part of category

Payments & Commerce


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