NFC TIMES Exclusive Insight – The Moscow Metro saw a large increase in contactless open-loop transactions in 2020, despite a sharp fall in ridership because of the Covid-19 pandemic, according to Roman Latypov, a first deputy CEO for the transit agency.
Latypov said contactless EMV transactions had already been doubling the past few years thanks to fare capping and greater confidence among customers in security and privacy protections for contactless payments. In addition, Latypov, who spoke Wednesday on a panel during the Transport Ticketing Digital virtual conference, said the Moscow Metro had increased promotion of the technology during the pandemic to emphasize the importance of reducing cash usage to pay for fares and tickets.
“During the pandemic, even though our number of passengers decreased by 50%, we had growth in transactions, which is absolutely amazing,” said Latypov, predicting that contactless transactions will double this year. “Our customers like it, and we will continue to promote it.”
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