Municipalities and banks strive to extend financial services to underserved populations, the digitalisation of public transportation and the introduction of prepaid cards have emerged as powerful tools for driving financial inclusion. Prepaid instruments present banks with innovative pathways for revenue generation in automated fare collection. By integrating prepaid cards into public transit systems, cities can enhance accessibility to transportation services while simultaneously providing unbanked individuals with a gateway to financial inclusion.

In 2023, through the buzzing engines of vehicles, the echoes of the words “sustainability” and “MaaS” were heard, a refrain that resonated across both public and private transportation sectors, as well as within municipalities. The commuter preference majorly shifted towards greener, more convenient, contactless way of payments, with over 90% of commuters surveyed expected contactless payments in public transit, while MaaS market size reached over 221 bln USD in volume in 2023.

In the ever-evolving landscape of public transportation, the methods of handling payments have undergone a significant transformation. Transit agencies, responsible for ensuring seamless and efficient commuter experiences, are now faced with a pivotal choice: SaaS (or Cloud) Deployment of Open-Loop payment systems, or traditional On-Premise payment solutions.