On 10th September 2019 we held an event that looked at how technology is changing the world of transit.
We were lucky to have four amazing speakers from Mastercard, JustPark, what3words and Uber who discussed how technology is impacting their segment of the market and gazed into the future of how tech can shape transit further and the impact this can have on consumers and the world.
Our first speaker Will Judge from Mastercard discussed what trends he felt were changing transit – especially in terms of payments. Trends like the digitalisation of the user experience, global standardisation and digital integration.
Digitalisation of the user experience – Nowadays people use all manner of devices to access public transport such as the tube. Smart watches, smartphones, rings and contactless cards – the landscape has changed enormously and so Will discussed how transit companies have had to adapt in order to process transactions. Pre-paid products are a thing of the past and the market has now moved towards a pay-as-you go model and it’s all because of technology.
The next trend Will touched upon was the shift from local standardisation to global standards. If you take the London Underground today, the payment gates accept all of the world’s payment standards. London had 18 million visitors last year and so switching to contactless makes it easier for all of these world visitors to use the ticketing technology. Will identified how having this in place enables transit companies to be able to invest in other areas of their business.
Looking into the future of payments in transit, Will disclosed how the world is becoming more inter-connected. The need for cities to be open is only going to grow and grow which means all forms of transit will need to allow for this.
Digitalisation integration is also going to impact the future. Apps are critical and will be more important than in-station staff as times goes on. Will identified the likes of Citymapper and how their role as a mobility-as-a-service app and platform will playout. According to Will, for a mobility-as-a-service company the job’s not done until the app can do the full three stages of: plan, travel and pay.
So who will become top of the mobility brands?
The second speaker to take the stage was Oren Peleg from JustPark who talked about the company’s mission in building the infrastructure for mobility.
In a time where governments are pressured to facilitate more public transport, more walking, more cycling and less cars – Oren talked about how technology can be utilised to make the most of the ‘spaces’ we have.