FEIG ELECTRONIC is a leading global technology supplier in the field of RFID readers, Controllers, Sensors and Self-Service Payment Terminals, headquartered in Weilburg, Germany. As part of their portfolio in the NFC/Open Payments category, the company introduced their innovative cVEND platform— which enables secure transit payment transactions for both contactless open loop credit cards and closed loop public transport ticketing thereby creating seamless user experiences on public transport methods. Today FEIG payment terminals serve as the gateway to a fast, frictionless, end-to-end journey.
Selecting the right partner
- Transit operator seeks an enabler to help upgrade to open loop payment systems
- Transit operator searches Visa Ready for partners certified for transit use cases
- FEIG’s Visa Ready certification assures the transit operator of FEIG’s capabilities
- FEIG’s solution allows the transit operator to streamline their launch of open loop payments
Recognizing Visa’s ongoing commitment to help transit operators upgrade their transit payment experiences, FEIG became a Visa Ready for Transit partner in April 2020. Their participation has provided FEIG with opportunities to:
Validate: FEIG as an established payment solution provider in the urban mobility and transit sector
Align: FEIG’s cVEND payment terminal with the latest Visa standards—which can help streamline and simplify adoption and usage
Bring: solution visibility to the market – globally
Benefit: from expanded visibility into Visa’s global transit efforts and expertise
As a Visa Ready for Transit partner, FEIG is now seen as a best-in-class payment terminal solution provider with the understanding and expertise to enable the implementation of modern transit ticketing and payment systems. It’s an effort that promises to help attract more transit operators and system integrators from around the world—the potential to both elevate the company’s reputation and increase revenue.
Why Visa Ready for Transit
Visa Ready for Transit connects public transport operators with industry-leading terminal, back office, and payment gateway solution providers. The benefits of working with a Visa Ready for Transit partner include:
• Expedited time-to-market by finding the right partner, faster
• Reliable, innovative solutions that are EMV and PCI-compliant
• Assurance that the certified solution adheres to Visa’s global Mobility and Transportation Transaction (MTT) and/or Known Fare Transaction (KFT) frameworks
• Potential economic benefits through improved authorization data
"Aligning with Visa Ready for Transit standards makes it easier to showcase your solutions, and ultimately participate in important transit projects", says Eric W. Pitts Sr. Manager, Payment Operations FEIG ELECTRONIC.