Elavon to Enable Contactless Payments for SEPTA Commuters

Rhea-AI Summary

Elavon, a subsidiary of U.S. Bank, is partnering with the Southeastern Pennsylvania Transportation Authority (SEPTA) to implement contactless payment methods for transit services in Greater Philadelphia. This move aims to make payments more convenient, efficient, and secure for SEPTA's daily ridership of over half a million commuters. The new system, which leverages the Visa Acceptance Platform, will eliminate the need for dedicated transit cards and cumbersome terminal equipment, thereby reducing costs for SEPTA and enhancing the rider experience. The initiative mirrors Elavon's global transit payment solutions already in use in cities like Venice, Genoa, Monterey, and Myrtle Beach.

Positive

• Elavon's partnership with SEPTA introduces a modern and efficient contactless payment system for a major U.S. transit authority.
• The initiative aims to streamline boarding processes, enhancing convenience for over half a million daily commuters.
• Using Visa Acceptance Platform, the new payment method ensures secure and frictionless transactions.
• Eliminates the need for dedicated transit cards and terminal equipment, reducing transaction costs for SEPTA.
• Contactless payments improve transaction tracking and management, offering better visibility into rider volume and variability for transit agencies.
• The partnership enhances Elavon's Mass Transit services portfolio, reinforcing its global presence in cities like Venice and Genoa.

Negative

• The implementation of the new payment system may involve initial setup costs and potential technical challenges.
• There could be resistance from riders accustomed to traditional payment methods, affecting adoption rates initially.
• Potential privacy concerns related to tracking and management of transactions through online bank accounts or credit card statements.

Service will make payments frictionless and secure for Greater Philadelphia travelers

ATLANTA--(BUSINESS WIRE)-- Elavon, a wholly-owned subsidiary of U.S. Bank and one of the largest payments processors globally, is partnering with Southeastern Pennsylvania Transportation Authority (SEPTA) to offer contactless payment acceptance from any enabled card or mobile device across transit services. SEPTA is one of the ten largest transit systems in the United States.

“With an average daily ridership of more than one-half million, SEPTA needed a payments partner equipped to make payments as convenient, efficient and modern as possible,” said Pari Sawant, global chief product officer, Elavon. “Elavon’s Mass Transit Payments will deliver on those needs by making riders transactions frictionless and secure, ensuring everyone can focus on getting where they need to go.”

Elavon’s Mass Transit Payment solution eliminates the need for cumbersome terminal equipment and dedicated transit cards, which can significantly reduce the transit agency's transaction costs, streamlines boarding and improves overall rider experience. This can help to lower the cost of payments acceptance and management for transit agencies and brings an “any card, anywhere” approach.

For riders, this helps reduce the plethora of cards in their wallet and eliminates the need for paper tickets, while giving riders the convenience of tap-and-board payment without the need of a ticket. Contactless payments also simplify transaction tracking and management via online bank accounts or monthly credit card statements, which gives transit agencies greater visibility into their rider volume and its variability.

Visa Acceptance Platform serves as both the gateway and payment management platform for Mass Transit Payments.

“Contactless payments have helped shape the way consumers pay. Rather than standing in line to purchase or load a separate transit card, riders can save valuable time with this fast, easy, and secure way to pay,” said Bill Dobbins, Senior Vice President, Head of North America Acquiring & Enablement at Visa, a world leader in digital payments. “We’re excited that our partners at Elavon have leveraged Visa Acceptance Platform to enable contactless payments on SEPTA, enhancing the customer experience by empowering riders to tap their contactless cards or digital wallets – and pay for transit the same way they pay for other everyday essentials.”

This partnership expands Elavon’s Mass Transit services, as they currently provide contactless payment services to transit agencies globally. Notable transit areas served include Venice and Genoa, Italy, as well as Monterey, California and Myrtle Beach, South Carolina.

About Elavon

Elavon is owned by U.S. Bank (NYSE: USB), the fifth-largest bank in the United States, and provides end-to-end payment processing solutions and services to more than 1.3 million customers in the United States, Europe, and Canada. As the leading provider for airlines and a top five provider in hospitality, healthcare, retail, and public sector/education, Elavon’s innovative payment solutions are designed to solve pain points for businesses from small to the largest global enterprises.

About U.S. Bancorp

U.S. Bancorp, with more than 70,000 employees and $684 billion in assets as of March 31, 2024, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2024 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240606013856/en/

Joseph Rauch

Joseph.Rauch@usbank.com

919.260.2994

Source: Elavon

FAQ

What is Elavon's new partnership with SEPTA about?

Elavon has partnered with SEPTA to implement contactless payment methods across Greater Philadelphia's transit services.

How will Elavon's contactless payment system benefit SEPTA riders?

The system will make payments more convenient, efficient, and secure, eliminating the need for dedicated transit cards and reducing transaction costs.

What technology is being used in Elavon's contactless payment system for SEPTA?

The system leverages the Visa Acceptance Platform to ensure secure and frictionless transactions.

Which cities are already using Elavon's Mass Transit Payment services?

Elavon's services are in use in cities such as Venice, Genoa, Monterey, and Myrtle Beach.

How many daily riders does SEPTA handle?

SEPTA handles an average daily ridership of more than half a million commuters.