Considering the Unbanked in Cashless Fare Payment at Point of Service for Bus/Demand-Response Services (2022) / Chapter Skim
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Pages 7-17
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7 This chapter is organized into five sections. The first section reviews other studies from the TCRP, which is the preeminent source of fare policy and technology literature in North America.
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8 Considering the Unbanked in Cashless Fare Payment at Point of Service for Bus/Demand-Response Services b. Payment Options: These are the different forms of payment, such as period passes or multiride tickets.
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Literature Review 9 It should also be noted that the fare media (or payment instruments) discussed in TCRP Report 94 have evolved rapidly over the last decade.
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10 Considering the Unbanked in Cashless Fare Payment at Point of Service for Bus/Demand-Response Services identifying strategies for replacing passenger fare revenues. As noted in Chapter 1, many transit agencies temporarily stopped collecting fares due to the COVID-19 pandemic, and some are considering permanent free fare policies.
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Literature Review 11 To further promote economic inclusion, the FDIC works to fill a gap in research and data regarding household participation in the banking system and use of nonbank financial services, particularly through "How America Banks: Household Use of Banking and Financial Services." This research effort presents results from the 2019 household survey on the use of banking and financial services -- this survey has been conducted biennially since 2009 and is done in partnership with the United States Census Bureau. The 2019 survey included responses from nearly 33,000 households nationwide (Kutzbach et al.
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12 Considering the Unbanked in Cashless Fare Payment at Point of Service for Bus/Demand-Response Services The first relevant reference is a white paper published by the Smart Card Alliance in 2008 that began with a summary of the unbanked market in the United States. As part of this summary, the authors presented the results of a 2007 survey conducted by the Southwest Ohio Regional Transit Authority (SORTA)
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Literature Review 13 (68%) said they used a checking account, 64% used credit cards, and 55% used debit cards (see Table 4)
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14 Considering the Unbanked in Cashless Fare Payment at Point of Service for Bus/Demand-Response Services Characteristics Banked Unbanked All Riders Count (Weighted) % of Banked (Column)
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Literature Review 15 Part 3: Policy and Regulatory Considerations in the United States As noted in the previous section, unbanked transit riders may be more likely to come from minority and/or low-income groups, which could lead to concerns about civil rights and discrimination. Federal, state, and local laws guide the process of ensuring transit system changes do not have a discriminatory impact on protected populations.
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16 Considering the Unbanked in Cashless Fare Payment at Point of Service for Bus/Demand-Response Services State and Local Levels In addition to federal policies, transit agencies considering cashless fare systems should investigate state and local policies that may be applicable. One relevant type of state and/or local policy is bans or penalties on businesses (e.g., retail stores and restaurants)
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Literature Review 17 a "consultation report" with over 37,000 responses (Ko 2019)
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