PayiQ has released a new generation of products based on their award-winning Ticketing as a Service platform. Development has focused on wider readiness for international markets, compliance with new standards and integration to various validation systems. PayiQ TaaS® Ticketing as a Service platform is a new generation tool for smart cities and international MaaS partner network to deal with the forces transforming the global mass transit market.
This fall European Union put into full effect the Payment Services Directive (PSD2). The most important requirement of the directive was the need for strong customer authentication on most electronic payments. PayiQ has paid close attention to the requirements of PSD2 and its effects on the mobile ticketing industry. Although implementing strong authentication and following the other requirements of the directive lays on payment service providers, PayiQ has done its part in assuring that its platform is fully compatible with the PSD2.
This new release brings also a lot of new capabilities for customer benefit. The new Extension API allows seamless integration of validation hardware already in use with the mass transit systems in various countries. Multiple integrations are currently in progress together with the PayiQ Partner Network members. Also, the new “in-app embedding” feature allows any third party to seamlessly integrate PayiQ TaaS Platform into their mobile or web applications.
PayiQ has partnered up with CyberSource, a fully owned subsidiary of Visa, to provide a fully integrated, reliable and scalable platform for smart ticketing solution for global markets. This partnership with the new product release ensures that there is no need to integrate with local payment providers and methods one by one. Instead, there is now a single global payment service provider worldwide.
“Our development has advanced considerably in our latest product release. Development has been carried out with our company’s internationalization goals in mind, without forgetting the needs of our rapidly growing number of partners and customers.” says Tuomo Parjanen, PayiQ’s CEO and continues, “All the new features wished by our customers, partners and the actual consumers are combined into this release. This is a major step forward in our continuous mission to provide the best platform for all stakeholders.”