DUBLIN, Jan. 26, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/tpqgc9/transit_and) has announced the addition of the "Transit and Tolls: New Tracks for Growth in Prepaid in the US" report to their offering.
A new research report ' Transit and Tolls: New Tracks for Growth in Prepaid in the US', examines how prepaid payments are displacing cash in both mass transit and highway tolling. The two sectors offer market opportunities for prepaid providers across the value chain, but challenges remain.
The Transit and Tolls segment of the prepaid market encompasses a variety of form factors, including closed-loop magnetic-stripe cards, open- and closed-loop contactless cards, transponders, and increasingly mobile apps. All hold promise for reducing the role of cash and cash handling in major transportation systems.
Despite the challenges of legacy systems and government contracts, transit and tolling offer opportunities for companies all along the prepaid value chain from issuers to processors to distributors, said Ben Jackson, Director of Mercator Advisory Group's Prepaid Advisory Service and coauthor of the report. As transportation payment systems adopt new technologies, prepaid will be an important source of funds for commuters of all types.
Highlights of the report include:
- Estimates of market size in the United States for both mass transit and highway tolls
- Estimates of prepaid transit fare revenue in terms of amount loaded on closed-loop cards on buses, light rail, and commuter systems
- The prospects for mobile ticketing and fare payment in light of concerns about accessibility to this payment mode for less affluent and underbanked system users
- Data showing increasing revenues from toll road facilities for every year since 2010 despite stagnant growth in the overall vehicle miles traveled in the United States (according to the Federal Highway Administration)
- Prospects for widespread adoption of electronic toll collection and prepaid tolls, whose growth outstrips that of toll revenue, leading to a higher percentage of tolls from prepaid accounts than in previous years
- Ways for states to achieve interoperability of highway toll systems, which could boost prepaid toll collection significantly, and the example of a company that is seizing a market opportunity by aggregating protocol information for transponders through a single mobile application on smartphones
- Market opportunities for prepaid providers
Key Topics Covered:
Introduction: Transit and Toll Revenue Steadily Increasing
Transit: Metro Systems Shifting to Noncash Fares
- Open-Loop Cards
- Prepaid GPR Combined with Transit Cards
- Transit's Slow Transition to Mobile
- Wearable Payments
Highway Toll Revenue
- Data and Methodology for Estimating State Toll Revenues
- Growth in Toll Revenue
- Electronic Toll Collection Technology and Trends
Opportunities for Expansion
- Transponder Providers
- POS Reload Services
- Open-Loop General Purpose Reloadable Cards and Prepaid Tolls
- Parking and Other Car Services
- Benefits Providers
- For more information about this report
- Chicago Transit Authority
- Cubic Transportation Systems Inc.
- E-Z Pass
- Massachusetts Bay Transit Authority
- Minnesota MNPASS
- Ring Theory
- Utah Express Lane
For more information visit http://www.researchandmarkets.com/research/tpqgc9/transit_and
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets