Contactless Payments Surge in the Transit Sector

A former resident of Virginia Beach, Virginia, William Adam Boyd is an accomplished entrepreneur with more than two decades of business leadership experience. William Adam Boyd serves as CEO of VeriPay, a payment processing company.

From the outset of the epidemic, it was apparent that the crisis would serve as a spur for a faster transition to contactless payments. During the epidemic, the public transportation industry, like retail and hospitality, has had to deal with a slew of new difficulties. At the same time as emergency response strategies and capacity limitations have been implemented, the sector has been working to meet passengers’ needs for more hygienic payment choices.

Contactless payment limitations have been lifted all around the world in response to unprecedented demand. In October, Visa announced that it had completed over half a billion extra touch-free payments due to the changes in Europe. It’s commonly believed that payment habits are unlikely to change more than one year after the coronavirus pandemic began. Even when vaccination is readily accessible, 74 percent of small-business owners predict consumers will choose contactless payments, according to a poll published by Visa in November 2020.