TransaXiom is developing a ‘Cash-on-Chip’ technology that has the power to challenge all current concepts of instant, low value payments.

Its new ITSO Janus CMD2 card is the ‘revolutionary’ first step to allowing operators to expand their transit payment infrastructure to transit-related retail such as parking and kiosk sales, bringing greater sales volume as well as the opportunity to generate income from associated sales. There are also considerable marketing opportunities to be had by maintaining ‘top of wallet’ status through this single card approach.

TransaXiom is able to customise the solution from simple licensable technology to a complete ‘Payment as a Service’ offering. Coupling the Janus CMD2 with NFC phones acting as inexpensive merchant terminals allows for rapid and secure expansion of the transit payment infrastructure by operators.

Merchants are assured of instant funds, independent of network connectivity, allowing them the freedom to operate in any geographical area. Travellers are provided with a consistent interface through which they may transact and manage their money and the system is open to all users independent of their age or financial status.

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This page was last updated on 11 June 2013 GMT