Remove barriers and encourage collaboration in areas where commercial hurdles prevent innovation in the interests of consumers, e.g. contactless cards in transport
The UK Cards Association facilitated cross-industry collaboration between the card payments industry and Transport for London (TfL) to establish a transit contactless card business model to pay for travel. The UK now leads the world with TfL’s use of contactless cards for travel using a variable fare model, meaning the cost of all of a customer’s journeys for the day is calculated and the lowest fare is applied to their card account.
The UK Cards Association is calling for the Government, through the Department for Transport, to lead in the development and roll-out of contactless cards for travel with other transit operators across the UK to ensure customers have a common experience and understanding of the service offered. This approach can facilitate a model that the UK could export to other transit operators across the world.
For more a more information on this proposal please see pages 12-14 of the The UK Cards Association Annual Report 2015 for sections on ‘Facilitating payments innovation’ and ‘Contactless Cards – Transport for London.’ For further briefing please call 020 3217 8200 or email us at firstname.lastname@example.org.