Will the bank card replace the ov-chipcard?
After the disappearance of the paper train ticket the OV chip card may be next. Customers of the ABN AMRO bank will be the first people in the near future to check in at the public transport with their bank card. The bank plans to equip three million cards with the new technology. The NS is currently performing the first test with this new system. If the current tests run without problems a test group will be selected and further plans will be made.
To check in people will need to have a NFC chip and a minimum balance of 10 euro’s. The NFC (near field communication) chip is already implemented by ING and ABN AMRO cards and allows people to conduct transactions wireless (the system can be used at the Spar on the campus for example). It enables a two way communication between a bank card and another payment system. The current maximum transaction is 25 euro’s.
The new form of payment may become a financial hit for the NS. The current transactions are performed by Trans Link Systems, in which they are currently the largest shareholder (68 percent). The entire system and firm may become redundant this way.
This new system may come in handy for tourists who don’t own a OV chip card. They won’t have to buy a card anymore which will lower the huge amount of complaints the NS receives per day. The way our wallets look like today will change completely within the next years.
The big question is how long this new payment system will exist. They currently also equip smart phones with this NFC chips. Rabobank doesn’t participate in this new IT project and expects payment through telephones will be the next big thing.
Do you think the OV chipcard will disappear within the next three years?