COUNTRY FOCUS : NETHERLANDS

Digital development enhances the daily lives of consumers . We examine two examples of how such processes are making life easier for the citizens of the Netherlands as organisations offer innovative capabilities for the FinTech space .

Zaanse Schans , Netherlands

The Netherlands has recently completed the launch of a contactless transit payments system nationwide , simplifying access and allowing travellers to tap-in and tap-out with their debit card , credit card or digital wallet . All public transport across the country – including trains , buses , metros and trams – now accept OVpay , an open loop system consisting of upgraded infrastructure and innovative software that ensures frictionless journeys throughout the country and secure payments .

Mastercard played an essential role in the launch of OVpay , partnering with the joint public transport companies and Translink to support local banks with implementing mobility transaction processing rules . The company also ensured the necessary software updates and components were installed to move the country-wide innovations forward . The simplified payments approach enhances navigation for transit users , which includes millions of residents in addition to visitors to the Netherlands . Not only is it possible to pay with a debit and credit card , riders can also pay with a smartphone or smartwatch on which the card is uploaded to a wallet .

With OVpay , tickets or public transport passes are no longer required , with the exception for those who have a subscription . This improved public transit service benefits everyday riders and tourists alike as it increases efficiency , helps to reduce congestion , addresses environmental concerns and increases liveability .

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