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As the UEPS card caters for MULTI-WALLET functionality, one of these wallets can be used for limited transportation values to be loaded into this wallet for payment of transportation fares. Public transport services normally require high speed services which can be offered in the UEPS by setting this wallet as an “UN-SECURE WALLET” eliminating the need for PIN and/or biometric fingerprint verification.
"Banking on a Bus"
The same UEPS client card automatically has the banking wallets activated when the card is issued. Once funds are loaded onto these banking wallets, the commuter will be able to perform “Banking on a Bus” eliminating the need for queuing in the banking halls, merchant stores etc. The commuter will be able to avail of the core banking products such as balance enquiries and transaction lists (mini-statement) as well as the suite of products and services offered such as load funds, money transfers, cash advances and 3rd party bill payments. Commuters will be able to transfer funds from their banking wallets to top up their transport wallet and vice versa.
This solution reduces the risks associated with fraud and theft and ensures that fares collected electronically are deposited into the traditional bank account of the Transportation Company.
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TRANSPORTATION – DUAL CHIP WITH CONTACTLESS TRANSPORT PAYMENT MECHANISM
Investigations are currently underway for the implementation of a DUAL INTERFACE CHIP that can support and integrate the UEPS Application with a country’s current transport payment system with regard to payment certification and access via the turnstiles.
This transport payment application offers a proficient high speed payment mechanism for fast payments that can operate using CONTACT and CONTACTLESS CHIPS embedded within the UEPS Plastic Body. Net1 can develop the country’s transport payment system as part of the UEPS suite of functions allowing access to the transport payment wallet from both the CONTACT and CONTACTLESS interfaces. The CONTACT interface can deliver the full range of UEPS functionality whilst the CONTACTLESS interface can provide for the CREDIT or TOP-UP of the Transport wallet from a UEPS wallet.
This payment option can decrease any cash shrinkages, costs associated with fraud and settlement of the funds due to the rightful owners.
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Elimination of fraud and theft by removing cash from their payment system
- Guaranteed electronic payment from the transport company merchant cards settled daily into a nominated bank account of the transport company
- Reduction of administration costs. – No need to print fare vouchers as a slip is printed from the POS terminal when “Topping” up the Contactless Payment Mechanism
- Access to the UEPS POS terminal infrastructure installed by Banks and Merchants
- Daily MIS Financial Reporting on flow of funds
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