London has finally licensed a contactless payment system that allows people to board trains or buses with the use of a debit or credit card. This new technology will also be coming to other major cities around the world.
Universal Transport System
The license allows people to use this technology that can be utilized elsewhere. The money earned with this type of technology will be kept for a fare freeze for commuters in the city. This new tech enables the use of contactless debit or credit cards by swiping on readers in public terminals.
As a result, commuters will be able to travel without using any ticket. At each day’s end, the transport system will calculate the distance being travelled and will deduct the right amount. A daily or weekly cap will be applied on your spending if you travel enough. Mobile devices that support contactless technology can now be used as well to jump on a train or bus or even on the London Underground.
History of Contactless Tech
In 2003, this concept was started by introducing the Oyster swipe card developed by Cubic, which allows commuters to keep season tickets or pay-as-you-go credit in just one card. This same card reading system has added contactless payment system since 2012. The company will take this contactless tech to other countries as well.
Procedure for Contactless Payments
Personal identification numbers or signatures are not necessary when you use contactless. You simply need to touch your card on the card reader that should render contactless. Other contactless payment methods are also accepted when making transactions elsewhere.
You only need to have a credit or debit card issued in the UK on MasterCard, American Express, Visa or Maestro that displays the contactless payment symbol. Thus, you can use it when you decide to travel on various transports around the UK and soon around the world.