NFC TIMES Exclusive Insight – Commonwealth Bank of Australia, the acquirer and processor for the open-loop payments service rolled out by Transport for New South Wales in Sydney, says it is negotiating with transit officials in other Australian states to help launch similar payments services. It also hopes to be involved in payments for mobility-as-a-service platforms.
The bank, known as CBA, has already expanded its support for bank card fare payments to the Adelaide Metro in the state of South Australia, which launched a pilot last month on its trams.
South Australian minister for infrastructure and transport Corey Wingard said in a statement that the COVID-19 pandemic has “really highlighted the benefits of contactless payments and the need to have more options available.” He added that Australians already use contactless bank cards for nearly all of their retail purchases, “so it makes sense to expand this technology to include public transport.”
