What is Fare Payments-as-a-Service?

Around the world, multi-tenant Software-as-a-Service or SaaS platforms have revolutionized industries by delivering leading software solutions for companies of all sizes, quickly and cost-effectively. We now expect the software to be available for a fee as you use (or leased), that it will be constantly updated and improved, and that the process of changing the provider, if we are not satisfied with the services provided to us, will become simple and flexible.

However, the toll collection industry (other than online ticketing) continues to be dominated by Automated Toll Collection (ASOP) providers, with customized turnkey projects that companies have been using for years, or even whole decades.

What are the difficulties associated with fare payment systems created by Turnkey?

Each company that ordered the system needs to invest a lot of time and money, since the implementation of projects for individual orders involves the creation of a system for the customer from scratch, in accordance with the strict requirements set out in order. It turns out that each customer company buys its own solution in accordance with individual specifications, using individual software and hardware. As a result, these systems are expensive to manufacture, operate and maintain. In addition, they take a long time to implement, and updating them is costly and time consuming (if at all).

However, there is now a NEW and BETTER way that authorities and carriers can provide passengers with toll collection technology.…

What is Fare Payments-as-a-Service?

Electronic fare collection system as a service is a new and better way to deliver ticket systems to transport agencies, operators and passengers. Instead of starting a turnkey project and purchasing personalized automatic toll collection system, businesses can now subscribe to the service provided through a multi-tenant toll platform.

Rent systems of electronic fare collection allows extremely quickly to introduce the latest innovations in this area and gives transport agencies expand capabilities as they are released to the platform, bypassing all the complexities of developing and maintaining ticketing systems.

Features of fare as a service

Subscribe, work and grow: Transport carriers can simply rent a toll platform as it is already in place, making it easy to buy, manage and update their toll collection system. Businesses can leverage a proven platform in weeks and expand as the service expands.

Multi-tenant fare payment platform: Each agency uses the same platform, customized in different ways to suit their needs. This makes it much more economical (costs are amortized for all customers), as well as quicker implementation and constant updates (one update is available to all tenants with all the benefits of the platform). The key point here is that the platform is multi-tenant.

The fare-as-a-service model has several significant benefits for cities:

Profitability: Businesses can reduce the overall cost of toll collection as the cost of providing the service is less as everything work on the same
platform.

Fast: After adding features to the fare platform, existing customers can use the new features with the next update. It also means that integrating new features can take weeks rather than years.

Continuous Updates: New updates are regularly delivered to the fare platform, which means all agencies on the platform are getting exciting new features to keep them up to date with the pace of technology change.

Mobility as a Service is included. The platform is helping to enable mobility as a service (MaaS) for public transport via SDKs and APIs linking tickets, fares and payments from all carriers with a MaaS service connected. Agencies can also deploy MaaS based on passenger accounts through ticket sales. This allows passengers to use a saved value account or a contactless bank card that allows connections to multiple operators, while charging passengers the "best" fare after travel.

Open integrations. The open architecture, API oriented, means that the platform can communicate with existing (or new) systems. This helps make toll systems easier to use and allows the platform to connect to existing or new services as needed.

Account-based ticket sales history: Provide the latest innovations for carriers by enabling account-based ticketing with payment via mobile phones, smart cards or contactless bank cards. Everything for maximum convenience passengers.

Future-proof roadmap: With a roadmap with new features and capabilities, a platform-based approach simplifies fare payments and frees the driver from ticketing, while focusing on safe and secure road traffic.

Increase in the number of public transport passengers

Multi-tenant fare payment platforms with connected account-based ticketing and mobility as a service are helping to increase public transport utilization by improving accessibility, discovery and convenience. We believe this, together with the amount of money saved that can be returned to the operation of transport services and deeper data analysis, will help carriers and operators get more people to use public transport, reducing traffic congestion and making our cities more livable, work and tourism.

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