• Cost-Effective: Agencies are able to reduce the overall cost of fare collection as the cost of supplying the service is less as everyone is on the same platform. Services are available on a percentage of ticket sales basis with reduced capital, maintenance and update costs.
• Speedy: Once capabilities are added to a fare payments platform, existing customers can use the new functionality after their next update. It also means new deployments can be live in weeks instead of years.
• Constant Updates: With a fare payments platform new updates are delivered regularly, meaning all agencies on the platform get shiny new functionality enabling them to keep up with the pace of technology change.
• Mobility-as-a-Service Enabled: Fare payments platforms help enable Mobility-as-a-Service (MaaS) for public transit through SDKs and APIs linking tickets, fares and payments with other best-of-breed MaaS services. Agencies can also deploy Account-Based MaaS via Account-Based fare payments capabilities. This enables passengers to use a stored value account to tap across multiple operators, with passengers being charged ‘best fare’ post their journey.
• Open Integrations: An open API architecture means fare payment platforms can link to existing (or new) systems and connect with other best-of-breed services. This helps make deploying fare payment platforms easier and allows the platform to connect with existing or new services, as required.
• Account-Based Ticketing Experiences: FPaaS platforms deliver tickets to riders but they should also enable the latest innovations for agencies by enabling account-based ticketing using a mobile phones, smartcards (NFC) or contactless bank cards (cEMV) - meaning riders no longer need to buy a ticket or understand fares to travel. The ultimate convenient passenger experience.
• Future-Proof Roadmap: With a roadmap of new features and capabilities, a platform approach takes the complexity out of fare payments and allows experts to guide agencies on their ticketing journey, allowing them to concentrate on what they do best, providing safe, reliable and convenient journeys for riders.

Agencies can design and build their own ticketing system. However, these systems are expensive to build, maintain and update, often take years to go live with a significant build risk, and do not update with new features and functionality without additional spending and resources, so often ‘decay’ for years.

Agencies and operators can opt for a Fare Payments-as-a-Service approach which brings significant benefits. Once a capability is built it can be deployed extremely quickly (as everyone is using the same platform and code). It’s far more cost-effective to deploy, maintain and update, because costs are shared across all users, and everyone using the platform benefits from constantly improving features and functionality.