Ticket to RideThe PayiQ Blog
For a NEW company, the first decade is both a promising start and an eternity. Seeing the true essence of one’s business and pinpointing strengths within the ever-shifting technological and commercial landscape invariably takes longer than anticipated.
After Q1, PayiQ still finds itself firmly on the growth track we established in 2022. Ticket sales through our apps were up by more than 20% in the first quarter compared to last year. The increased sales are coming from all over Finland, not just from our stronghold, the greater Turku region. There’s no reason to think that the growth will not continue.
Transport benefits for large corporations are a bright idea. They generate sustainability, ease the flow of a workday, and lessen traffic congestion. However, offering these benefits has also proven to have negative aspects. Benefit misuse due to the amount being stored on the transport card is not uncommon, and the act of card top-up requires extra time and effort from staff members.
While I am extremely proud of what our team accomplished in 2022, I would not want to revisit it, ever. At the year’s start we already faced serious challenges since the global pandemic had cut deeply into our core business of mobile ticketing, squeezing our cash flow and freezing our expansion plans.
These days every new smartphone application is fighting for the user’s attention, but users are getting tired and overwhelmed with the continuous need for more and more single purpose apps. The more customer demand one app can cover, the better value the user receives.
Pollution. Traffic jams. Not enough parking.
The current need for better public transport systems and a greener future are clear. As of now, mass transit creates 25% of CO2 emissions in Europe, but the industry is facing a change as Europe aims to become the first climate neutral continent.
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Ticket to Ride is the monthly blog of PayiQ. If you need to know where smart cities and smart mobility are headed, don't miss the bus. Subscribe to our newsletter today.