TAP is one of the largest smart card systems in the United States, with an average of 24 million transactions processed every month, serving 1.3 million passengers daily on a fleet of 2,200 clean air buses and six rail lines. <\/p>\n\n\n\n
The Los Angeles County Metropolitan Transportation Authority (Metro) to expand the network of retail locations at which customers can purchase and reload TAP<\/a> cards. TAP riders can currently buy and reload TAP cards at more than 450 retail locations across Los Angeles County; it will expand that total to more than 2,000 stores in 2020. Source: <\/a>PaymentsJournal<\/a><\/p>\n\n\n\n As an incentive to install the card readers, a store receives 3.75% of each transaction as commission. Source: Dailynews<\/a>.<\/p>\n\n\n\n Average credit card processing fees range from 1.5% to 2.9% for swiped credit cards. Source: Creditdonkey.com<\/a>.<\/p>\n\n\n\n Therefore, a 3.75% transaction fee for top-up is a rip-off.<\/p>\n\n\n\n TAP Card with a big user base can be a good cashless payment for convenience stores, fast food restaurants or retail stores. It has a competitive advantage over Visa or Master card that people carry it every day and there is no penalty for late payment.<\/p>\n\n\n\n If TAP Card can be a spin-off, operated independently of LA Metro, it can charge the LA Metro 1.5% transaction fee like a credit card. If the credit card company can make a good profit with 1.5%, so does TAP Card.<\/p>\n\n\n\n The 24 million transactions monthly with an average of $1.75 will give TAP Card monthly income of $63 million.<\/p>\n\n\n\n On top of transportation income, TAP Card can go after the high transaction amount retail market in Los Angeles. Taking a small piece of the pie from Visa and Mastercard will be a big number.<\/p>\n\n\n\n With the big customer base like TAP card and also latest mobile payment technology, TAP card can be easily established itself as the local cashless payment icon in Los Angeles.<\/p>\n\n\n\n Not only it saves the taxpayers’ big money to invest further on new account-based open payment for LA Metro, but it will also bring attractive income to the city of Los Angeles.<\/p>\n\n\n\n Learn more about the latest mobile payment technology for public transit and retail, please visit mobileafc.net<\/a><\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" TAP is one of the largest smart card systems in the United States, with an average of 24 million transactions processed every month, serving 1.3 million passengers daily on a fleet of 2,200 clean air buses and six rail lines. The Los Angeles County Metropolitan Transportation Authority (Metro) to expand the network of retail locations … Continue reading “TAP Card should go after the high-profit retail market in Los Angeles.”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","spay_email":""},"categories":[1],"tags":[12,10,51,20,50,24,41,37,9,49,36],"jetpack_featured_media_url":"https:\/\/mobileafc.net\/wp-content\/uploads\/2019\/12\/Up-and-coming-snacks-swoop-into-Los-Angeles-7-Eleven-stores_wrbm_large.jpg","_links":{"self":[{"href":"https:\/\/mobileafc.net\/index.php?rest_route=\/wp\/v2\/posts\/220"}],"collection":[{"href":"https:\/\/mobileafc.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mobileafc.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mobileafc.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mobileafc.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=220"}],"version-history":[{"count":11,"href":"https:\/\/mobileafc.net\/index.php?rest_route=\/wp\/v2\/posts\/220\/revisions"}],"predecessor-version":[{"id":301,"href":"https:\/\/mobileafc.net\/index.php?rest_route=\/wp\/v2\/posts\/220\/revisions\/301"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mobileafc.net\/index.php?rest_route=\/wp\/v2\/media\/231"}],"wp:attachment":[{"href":"https:\/\/mobileafc.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mobileafc.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mobileafc.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Potential High-Profit Income from Retail Market<\/h4>\n\n\n\n
Conclusion<\/h4>\n\n\n\n