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Working together with Cubic Transportation Systems, a subsidiary of San Diego-based Cubic Corp., and Visa, Inside previewed the multifunction contactless payment card that supports both a type-approved Visa payWave payment application and Cubic's NextPASS fare collection software that is compliant with APTA's Contactless Fare Media Standard (CFMS).
Inside's proof-of-concept demonstration showed how a single multi-application card based upon its MicroPass 4003 chip platform can be used to conduct contactless payments on both a retail POS terminal and on a Cubic transit fare collection device, and comes at a critical time in the evolution of transit payment systems. Local and regional transit operators will now have the choice of adopting or migrating to transit fare collection solutions based upon both APTA standards, private profiles, and open bank card standards with greater security, functionality and user convenience. This is also providing retailers and financial institutions with an opportunity to partner with transit operators to provide consumers with a single payment card that can also be used to conveniently pay for goods and services located near public transit stations. The combined Visa payWave/NextPASS contactless card is the first example of a technology that could be used to address this emerging demand, according to the company.
"Our MicroPass intelligent contactless payment platform is specifically designed for high-volume, multi-brand and multi-application capabilities for the kind of next-generation contactless payment and transit applications we are demonstrating at the APTA Expo," said Charles Walton, executive vice president of payments for Inside Contactless. "With strong support from Cubic and Visa, we are clearly demonstrating the feasibility of utilizing the flexible MicroPass platform for APTA-standard compliant transit cards, or multi-application cards with added Visa payWave support to meet the various needs of this evolving market."
"The MicroPass platform is the undisputed contactless payment market leader, and we have been working with Inside for more than two years to create this multi-function, type-approved contactless payment card that supports both contactless payment and NextPASS transit functionality," said David deKozan, vice president of business development for Cubic Transportation Systems. "We look forward to continuing our co-development with Inside to produce a world-class product suite that is fully certified for deployment with our Nextfare systems and marketing them to transit operators globally."
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((Distributed via M2 Communications Ltd - http://www.m2.com))
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