This year, the city of Madrid rolled out a working solution of Mobility as a Service (MaaS), integrating different means of transportation from different providers, all accessible through a single mobile App, with a single mode of payment regardless of the provider behind the service.
This represent a major step in the convergence between IoT, open dataset and payments integration. Thinking about MaaS, the first two come as a normal evolution of the services. Indeed, planning your trip through different means of transportation has already been available on our phones for quite some time. But the latter is bridging a gap to a new type of services: payments.
Often quoted, the saying “data is the new currency” is making its full sense here, at least for two reasons. The first, obvious one, is that the bid and ask for a mobility service transaction will directly derive from the available data. In other words, if you can’t provide enough accurate data fast enough about your offer, you won’t get any customers. The same can be said about your capacity to collect and process data about your potential customers’ requirements.
The second reason is not so obvious at first, but a consequence of the first one: traditional payments are getting in the way of closing a deal.
Now if only there was a technology available to conclude decentralized, highly formatted contracts between multiple, changing parties, without a validating authority… but let’s keep some for another day. What a time to be alive!
EMTPay is designed for all EMT services, being a platform capable of managing transactions made in any mode of transport or mobility in its different modalities: physical card, mobile phone (Apple Pay and Google Pay), or through e-commerce within apps or website. In this sense, the platform integrates, for example, all the transactions that are carried out at the contactless validators of the buses, at points of sale (POS) of parkings, bike-sharing (BiciMAD), at EMT Cable Car, and Electro-EMT app (charging network for electric vehicles), as well as any other third-party payment channel that is integrated in MaaS Madrid .