Visa will engage and partner directly with airlines, transit operators, car manufacturers, rental companies, parking and fuel providers to create innovative solutions that integrate new and emerging technologies into every kind of journey.
The Transportation Center of Excellence is a global service that brings together the power and scope of Visa’s programs including the Visa Developer Platform, Visa Token Service, Visa Ready for Transit and Visa Global Transit Solutions with its global network of Innovation Centers and Studios.
Building on Visa’s experience in working with transportation companies such as Transport for London and Uber, Visa’s Transportation Center of Excellence is designed to improve the consumer journey.
As part of the new program, Visa is hosting co-creation sessions at its Innovation Centre in London with its partners in transportation, banking, and retail. The goal is to remove friction in travel and create new and easier ways for consumers to access and pay for transportation.
The program aims to cover all modes of travel:
Car – According to the Business Intelligence Connected Car report, there will be more than 293 million connected cars on the road by 2025. Anticipating this trend, Visa works with several of the world’s largest manufacturers to look at ways to safely and securely embed payments in on-board computer systems. Early use examples include paying for fuel, food and insurance. As consumer behaviours continue to change, future use cases may include using Visa credentials for ride sharing, insurance by the mile, and electric car recharging on the go.
Parking – Traffic congestion worldwide is leading to the creation of more efficient ways to manage parking and transportation. In our innovation centre in London Visa is collaborating with start-ups and fintechs to implement new technologies that can help remove the pain points of finding and paying for parking.
Public Transportation – Research from the United Nations predicts that 66% of the world’s population will live in urban areas by 2050, making the growth of smart and efficient mass transit more important than ever. Visa’s Global Transit Solutions which is already focused on implementing contactless payments as an everyday way to simplify commuter travel. At the same time, Visa is also looking at what the next generation of public transportation can look like, where location services, Bluetooth and biometrics can make the journey even easier.
Air – Visa has hosted co-creation sessions with the industry’s largest airlines, collaborating with them to address the consumer journey starting with planning, ticketing and in-flight experiences enabled through new technologies like virtual reality.
The program is led out of the London Innovation Center and is open to companies from across the globe. Any company interested in more information should contact the Visa transportation team at innovation.europe@visa.com.
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