27 September 2022
Atlanta (September 27, 2022) – Elavon, a wholly-owned subsidiary of U.S. Bank and one of the largest payments processors globally, today launched Mass Transit Payments, a streamlined way for public transit agencies and private providers of all sizes to offer contactless payment acceptance from any enabled card or mobile device.
“As we start travelling again, contactless tap-to-go payments make paying for tickets as convenient and efficient as paying for your morning coffee on the go in rush hour or zooming through the fast-checkout line at the grocery store” said Pari Sawant, Global Chief Product Officer, Elavon. “Mass Transit Payments is a product built to make transactions frictionless and secure for both transit agencies and their riders so everyone can focus on getting where they need to go.”
Contactless payments have emerged as an expected form of payment for consumers, broadly, and usage in transit grew rapidly at the start of the COVID-19 pandemic. And riders are increasingly demanding it. Recent Visa research found 91% of survey respondents expect contactless payment options on transit, with roughly half preferring contactless payment options.
Mass Transit Payments removes the need for specific transit agency-supported contactless cards by accepting any contactless-enabled card or mobile device. This helps to lower the cost of payments acceptance and management for transit agencies and brings the “any card, anywhere” approach to agencies that may not have been previously able to support contactless payments.
For riders, this helps to reduce the number of cards in their wallet, and eliminates the need for paper tickets. It also makes it easier for many users to track and manage transactions in a place they already use regularly, like an online bank account or monthly credit card statement.
Overall, the lack of cash usage is a benefit to public health – limiting the interactions between drivers, ticket takers, and riders – while also increasing security by reducing cash on trains, buses and ferries.
Cybersource, a Visa solution, serves as both the gateway for the platform and the acquirer for Mass Transit Payments. The formal launch comes after extended pilots in California, and Elavon is involved in similar pilot programs in Europe. See more about Elavon and its support of mass transit payments here.
Notes to editors
About Elavon
Elavon is wholly owned by U.S. Bank (NYSE: USB), the fifth-largest bank in the United States, and provides end-to-end payment processing solutions and services to more than 2 million customers in the United States, Europe, and Canada. As the leading provider for airlines and a top five provider in hospitality, healthcare, retail, and public sector/education, Elavon’s innovative payment solutions are designed to solve pain points for businesses from small to the largest global enterprises.
About U.S. Bank
U.S. Bancorp, with approximately 70,000 employees and $587 billion in assets as of March 31, 2022, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2022 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.
Contact:
Joe Rauch, Communications Manager | Global Head of Communications for Merchant Acquiring | Public Affairs and Communications
