GenPay allows transit agencies to simply, securely and cost-effectively accept bank card payments on the bus, as well as at any online or retail sales channel, with a single-vendor bank card processing solution.
Highlights
- Secure PCI Level 3 certified
- Simple fee model
- Single-vendor turnkey bank card processing
Simplified
GenPay is single-vendor, turnkey bank card processing solution, streamlining support and accelerating revenue collection across channels. It has a simple fee model with no tiers to reach, no minimums, and no additional fees to use purchased products.
Empowered
GenPay partners with the leading U.S. merchant services provider, Chase Payment Solutions, to process Discover, Visa, and MasterCard payments. Funds are directly deposited into the agency’s account and are immediately available for use.
Connected
GenPay is powered by Genfare Link®. Reporting, customer service, and other functions are easy to access in Genfare Link’s administrative interface. GenPay works with all Genfare sales channels accepting bank card payments.
Secure
GenPay’s tokenization process anonymizes sensitive card information and ensures only the bank receives credit card information, reducing the risk of data breaches and building trust with riders.
The cost advantages of GenPay payment processing
Among the advantages of GenPay, compared to other payment processors, are its simplicity and comprehensiveness.
Simple pricing structure. Some vendors charge separately for third-party fees, annual licensing, add-on services, their own transaction markup, and so on. In contrast, GenPay’s pricing structure is simple, consisting of a flat fee based on average ridership volume plus a fixed percentage of the amount per transaction. This charge covers both third-party fees and Genfare’s markup.
Some other vendors also charge a single fee per transaction, but the rate is considerably higher than for GenPay. Genfare imposes no additional charges for licensing and other services, nor is there a minimum annual fee, in contrast to some other vendors.
Fixed transaction fees. For other vendors, processing electronic fare payments involves multiple parties, each of which charges a fee per transaction. These fees, which are ultimately borne by the agency, include interchange and assessment fees, payment brand fees, gateway fees, and acquirer fees. Fees can vary depending on card brand, issuing bank, etc., making it difficult to predict expenses.
In contrast, GenPay absorbs all variation in underlying charges — the transaction fee is solely a function of the payment amount. This makes it unnecessary for agencies to impose fare policies that favor one type of payment card over another.
Single vendor solution for all channels. Many vendors specialize in a particular type of fare collection service, such as mobile ticketing or vending equipment. Agencies offering a range of fare payment channels may be required to deal with multiple vendors and processors, adding to their administrative burden.
Genfare offers the full range of fare payment channels — including fareboxes, vending equipment, mobile ticketing, web portals, and more — with all electronic payments processed through the same service, GenPay. This makes customer service and other administrative tasks much simpler.
Simplify secure bank card processing with GenPay.
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Journey with Genfare
We want to elevate transit, not just for riders, but also for the agency and the whole community. Learn how Genfare can help your agency increase ridership and raise revenue with our simplified, empowered, and connected equitable mobility solutions.