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"Greater Manchester leads in the creation of a Cashless Society"
5 October 2009 -Bolton
On Monday 28 September 2009, GMPTE and Bolton Council succeeded in launching the UK's first ITSO-enabled, multi-purse smart card that allows holders to pay for public transport, buy a newspaper, a sandwich or any other low-value item where cash would normally be used.
With more than 200 million bus trips and approximately 40 million local rail and Metrolink trips made annually in Greater Manchester, the Greater Manchester Passenger Transport Executive (GMPTE) announced in February 2008 that it had signed an agreement with sQuidcard, the eMoney payments network, to provide apre-paid transitsmart card service.
sQuid eMoney was launched last year in Bolton on the Council's existing 'Bolton Smart' card. The Council-issued card enabled citizens for the first time to access Council services, such as entrance to leisure centres and libraries and to purchase low-cost items such as newspapers, food and other convenience goods. Initially, the card did not include a transit purse.
This week, that changed! GMPTE and Bolton Council announced that card holders can now pay for bus travel on all Arriva bus routes in Bolton with their card, in addition to accessing Council services and shopping at local participating stores. The pay-as-you-go transit purse on the Council smart card can be topped up using sQuidcard’s online payment system which provides a secure platform for customers and operators to make electronic transactions.
There are a number of reasons why Manchester has succeeded. Fundamental to the success of the smart card is that it is ITSO-enabled. Supported by the Department of Transport, ITSO is an independent organisation that has developed specifications for the security of cards, products and transaction data between interoperable schemes. Whilst ITSO does not run schemes, provide equipment or influence commercial agreements, it does provide an environment for schemes to operate in and enjoy that security. sQuidcard integrates with the ITSO scheme providing payment settlement to bus operators and GMPTE.
There are also other benefits of the sQuid platform that benefit all who use or operate the payment network. sQuidcard is not a bank and therefore is not encumbered by the processing layers between the merchant and the banks that are associated with existing debit and credit card networks. There are no fees attached to the sQuid eMoney service for customers; the only available to all, socially inclusive card that is free to get and free to use. And the cost to retailers, transport operators and other organisations utilising the pay-as-you-go facility is very competitive. sQuidcard charges no more than 1.5% of the transaction value making the sQuid ePurse significantly more attractive than debit and credit cards.
As the UK’s second largest city, Manchester has widely been regarded as one of the most progressive. The Greater Manchester Integrated Transport Authority (GMITA) has a key objective to make public transport integrated, attractive and easier to use. According to Councilor Keith Whitmore, Chairman of the GMITA, their new effective, efficient and reliable smart ticketing system is a key element to achieving this aim. The Bolton project has laid the foundation for expansion across the whole of Greater Manchester, something that is not likely to go unnoticed by other councils throughout the country.
Adam Smith, CEO of sQuidcard, stated that a “cashless society” has come a giant step closer to reality. “sQuidcard’s aim for consumers is to provide a card that is available to everyone, is free, easy and convenient to use, and could improve the issue of personal money management and security.”
UK consumers spend around £200bn annually on cash transactions. Not only does the handling of cash cost retailers a substantial amount in bank fees, security and accounting time, carrying cash can also be inconvenient for consumers. Provided they are convenient and cost-effective for consumers, retailers, transit operators and others who operate these smart cards, eMoney systems are ringing in a major change to the way in which we manage and spend our money.
