Our Mobility-as-a-Service (MaaS) consultancy lets you tap into our network of payments experts to integrate multiple forms of transportation into one unified mobility service.
A new ecosystem of personal mobility is emerging. Involving electric vehicle manufacturers, public transportation firms, ride-hailing apps, data providers, and many other organizations, MaaS represents a user-centric transportation management system in which all transport modes, service operators, and infrastructure providers are connected under a single platform.
The urban population continues to grow rapidly. By 2050, it’s projected that 68% of the world’s population will live in urban areas - up from 54% in 2016. This will place additional strain on existing infrastructure and land resources.
By 2030, it’s predicted that the world will have 41 megacities - conurbations with more than 10 million inhabitants. MaaS can play a critical role not only in facilitating travel across these huge urban areas but also between mega-cities and other less-populous regions.
The European Union has committed to reducing overall CO2 emissions by 80% in 2050 when compared with the base year of 1990. Meeting the CO2 emission reduction goal will require a huge restructuring of current transportation service and adoption to MaaS.
The global car-sharing market grew at a compound annual growth rate of around 8% between 2014 and 2019, largely driven by new mobile apps. Connected vehicles and IoT sensors promise to bring further innovation to the MaaS market.
Although the commercial potential of MaaS innovation is immediate, many mobility companies do not have an awareness of what payments can do for them in this area. Although MaaS may take a number of years to achieve technological and market maturity, mobility firms cannot afford to wait before getting on board with this trend. If you don’t focus on MaaS now, you will miss out on a revolution that is gradually being embraced by your competitors - in both the private and public spheres.
Find out how PaymentGenes can use payments technology innovation to deliver a winning mobility-as-a-service strategy for your business today.
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The fintech space has expanded significantly in recent times. The emergence of agile new players has disrupted the status quo, providing customers with state-of-the-art services and giving long-established financial institutions plenty to think about. Globally, the fintech market is predicted to be worth approximately $324 billion by 2026, exhibiting a CAGR of 23.41%.
Although some aspects of how we move around the urban environment have changed in recent years, several familiar problems remain. Cities continue to be plagued by over-burdened infrastructure, worryingly high pollution levels, and - perhaps most annoying of all - traffic. The large-scale transition to MaaS is the solution, yet also one of the biggest multifaceted challenges to overcome - in which payments play a critical role.
If Mobility-as-a-Service (MaaS) solutions are to continue their upward trajectory, businesses must ensure that the payment process is as frictionless as possible. Fortunately, the mobile payments space has developed rapidly over the last few years. When PayPal revolutionized the payments space in the early 2000s, it had few competitors in the nascent digital market. Today, every bank has its own mobile app to facilitate payments and a host of fintech firms have been founded as payment processors or gateways to create a highly competitive ecosystem.