PayCore EMV Transit Management Solution provides a variable fare payment system that enables open loop contactless cards to be used with existing terminals in compliance with financial payment industry standards.
The new payment acceptance concept allows to use existing close loop cards on a separated system. The separation provides a secure channel distribution to Automatic Fare Collection (AFC) solutions for conforming to open loop payment industry security standards. Variable fare calculation for existing open loop contactless cards requires host based risk management, authorization, clearing and settlement activities between an acquirer bank, AFC system and terminals.
PayCore EMV Transit Management Solution provides the functionality and integration between the AFC system, acquirer bank, terminal and other required elements in the transit environment while performing risk management analysis. The secure channel protects sensitive data elements in a special EMV contactless transaction with a tokenization process.
