Open-Loop Payments: A Subtle Trick Influencing Decision-Making in Public Transit

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Promoting the merits of open-loop payments, Visa and Mastercard frequently cite survey outcomes, which, in my opinion, bring to mind the phrase “we stand for everything good and against everything bad”.

One typical question posed is, “Would you prefer to pay quickly and conveniently?” and predictably, 90% of respondents say yes. (It does make me wonder who among us enjoys discomfort and delay!)

Strangely enough, I’ve yet to encounter poll results featuring the question, “Are you prepared to pay more for your travel in exchange for speedier transactions?”

I fear the response to such a question might not be so overwhelmingly positive.

It’s clear that these surveys are strategically designed to leave us with the impression that open-loop payments are universally desired.

This brings to mind a joke I once heard: “An Internet poll confirmed that 100% of the world’s population has internet access.”

Clever, isn’t it?

Open-Loop Payments Subtle Trick