Less than Half of U.S. Mass Transit Riders Pay Electronically, According to New ACI Worldwide Data on Mass Transit Payments
Riders prefer using cash—costing mass transit agencies twice as much in overhead as non-cash payments
Principal findings of the survey include:
-
Cash is king for mass transit riders: surprisingly, the most popular
method of payment for mass transit is cash (51 percent) followed by
credit/debit card (30 percent) and mobile app payments (12 percent).
- When asked to rank current perception of the security of individual payment types, riders viewed cash as the most secure payment method.
- Among non-cash payments, all types of credit/debit card payments are considered the most secure, with 29 percent of riders viewing credit/debit card payment at a physical location as very secure. Using a mobile app for payment is deemed as secure by 38 percent of respondents.
-
Trust in security—up to a point
- Although 78 percent of mass transit riders currently trust that the payment process is secure, if their payment data was compromised by data breach or fraud, nine out of ten riders would likely revert to using cash for mass transit payments.
- Most riders pay on a ride-by-ride basis: although the majority of mass transit riders surveyed take mass transit on a daily or weekly basis (62 percent), only 43 percent pay for their fare with a monthly or annual transit pass, and only 51 percent preload a transit card or pass.
"Cash, which mass transit riders vastly prefer over other payment types,
typically costs mass transit agencies twice as much in overhead as
non-cash payments," said
-
Trust in public transportation payments security varies by city
-
Of the cities surveyed, the city with the highest rider trust in
payments security is
New York (85%) and the cities with the least trust in payments security areSan Francisco (70%),Miami (70%) andWashington, DC (69%).
-
Of the cities surveyed, the city with the highest rider trust in
payments security is
-
Payment habits vary by city
-
New York mass transit riders use cash the least (42%), whilePhiladelphia mass transit riders use cash the most (75%).
-
* Methodology and Demographics:
This survey was conducted
via mobile app polling, targeting active mass transit riders in the nine
largest transit markets in
In total, 2,006 respondents completed the survey, with a median age bracket of 25-43 years old. Just over half (52%) of the respondents were male. 40 percent of respondents rely on mass transit in their city on a daily basis.
To learn more about the evolution of mass transit payments and how ACI's UP Merchant Payments for Transportation solution can help mass transit authorities recognize more value from payments, please visit: www.aciworldwide.com/transportation
About
©
ACI,
Product roadmaps are for informational purposes only and may not be incorporated into a contract or agreement. The development release and timing of future product releases remains at ACI's sole discretion. ACI is providing the following information in accordance with ACI's standard product communication policies. Any resulting features, functionality, and enhancements or timing of release of such features, functionality, and enhancements are at the sole discretion of ACI and may be modified without notice. All product roadmap or other similar information does not represent a commitment to deliver any material, code, or functionality, and should not be relied upon in making a purchasing decision.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161207005137/en/
Media Contact:
dan.ring@aciworldwide.com
or
andrea.snyder@aciworldwide.com
Source:
News Provided by Acquire Media