Conduent Transportation has announced new digital payment solutions, using real-time payments over the RTP network, for the transportation sector, to make billing and paying tolls faster, easier and more secure for transportation agencies and toll road users.
The new digital solutions, the first-of-their-kind in the transportation industry, could later expand payment options for bus and rail transit operators, parking authorities and other public sector uses, such as traffic fines.
The solutions are offered through Conduent’s Digital Integrated Payments Hub, powered by a collaboration with financial services leader BNY Mellon. The hub allows businesses and government agencies and their customers to access faster and more secure cost-effective options to send, request or receive payments.
Tolling transactions via digital payments can happen in a matter of minutes, simplifying the payment process for agencies and drivers. Real-time payments over the RTP network are also irrevocable and significantly reduce administrative and processing costs, while helping to modernize the customer experience.
For example, if a tolling account has insufficient funds to pay a toll, agencies will be able to quickly send an SMS notification to the vehicle’s registered owner, offering a real-time digital payment option. A bill is automatically generated via Conduent’s payment hub and routed to the owner’s bank account. The owner then receives a notification from his or her financial institution and authorizes payment, allowing the cash to be applied to the account.
“Today’s public is rapidly adopting – even expecting and demanding – more digital payment options to make their financial transactions faster and more convenient, while providing peace of mind about security,” says Lou Keyes, president of transportation solutions at Conduent. “Our Digital Integrated Payments Hub now makes it possible to extend real-time payments to tolling agencies and those they serve, as well as other transportation segments and activities requiring billing and payments. Digital payments reduce costs and improve agencies’ revenue collection while enhancing the experience for their patrons.”
Overall program benefits to the public for Conduent’s real-time payment capabilities include reduced violation rates and late fees because invoices and charges now can be paid immediately. People will gain improved convenience, flexibility and control over their payments, accounts and funds. For example, drivers can schedule future payments without needing to maintain an account balance.
For transportation agencies, the benefits of digital payments include increased revenue predictability and speed of collections. They can avoid complex and lengthy processing while reducing those associated costs. Digital payments will also allow transportation agencies to offer an improved and more satisfying experience.
