Visa’s top five recommendations are:
• Invest in connectivity. City governments needs to invest in an “always on” data infrastructure, which is fundamental to the technology solutions that consumers demand. It supports real-time data exchanges that can inform people about their journey as well as provide insight for cities to ensure that services meet shifting demand.
• Create a seamless payment experience to support commuter journeys with multiple “legs”. City governments and urban planners need to collaborate with think tanks, automotive and technology firms, and payments providers such as Visa. As a single journey will increasingly involve more than one mode transport (e.g., car+underground+bike) – it becomes imperative to create a simple, streamlined payment experience for the commuter, ranging from contactless transit to in-app payments or platform-based solutions.
• Integrate personal authentication into the payment experience. As companies and municipalities increasingly incorporate digital payments, they also need to integrate instant authentication. The role of Digital ID in the ecosystem is critical to address the changes in the way people use transportation, ensuring that both payment and personal authentication is easy and seamless.
• Design commerce systems with all members of society in mind When designing the commerce ecosystem, all members of the transportation ecosystem need to challenge their thinking to include seniors and the un- or underbanked, ensuring no one is left behind.
• Develop strategic partnerships to drive insights. Cities should partner with corporations that can broader insight, aiding in planning. Artificial Intelligence in combination with Big Data can be used to analyse data about consumption, movement and changing trends to anticipate needs in real time as well as provide cities with insight that can help with future planning.
For more information and download the full global report here: https://vision.visaeurope.com/blogs/future-of-transportation
Click here for the methodology of the research.
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