Today’s wide variety of available payment options, including digital, cashless and paperless transactions, among others, are there not only to make our lives easier; they can also be effective defense against fraud. Fraud goes beyond brick and mortar or online retailers – anywhere that payment is required, including bus and train stations, can fall victim to fraud on a daily basis.
Municipal authorities around the world concerned with combating ticket fraud and identity confirmation are adopting electronic payment solutions, and slowly but surely, paper tickets and transfers are becoming a thing of the past. It’s in this environment that ID Global Solutions Corporation ($IDGS), a company focused on fraud management and global payment solutions, is expanding its services to Latin American transportation authorities – offering a secure and high-tech solution to the challenge of collecting transportation fares.
ID Global announced that they have signed a 10-year Build, Operate, and Transfer Contract with Columbia’s Basetek S.A.S. The partnership will bring Payspot Kiosks to Bogota Transit Authority Stations. The contract, valued at $1.2 million, includes the installation, commissioning, and ongoing maintenance of 80 unattended PaySpot kiosks.
"This contract represents a key strategic milestone in the Company's entry into the Colombian and Latin American payment and fare collection markets,” said Thomas Szoke, CEO of ID Global Solutions. “We are pleased to be in collaboration with BaseTek S.A.S. and together anticipate bringing very unique services into the market."
Secure Payment Solutions Usher In the Future of Public Transportation
ID Global provides multi-functional secure payment solutions for open and closed electronic payment transaction networks. This partnership follows ID Global’s acquisition of the Bogota-based company, MultiPay SAS. MultiPay offers multifunctional payment gateway services to merchants, enterprise businesses and banking institutions in Colombia and Peru.
Staying true to its original mission of developing, integrating, and delivering advanced digital identification solutions, ID Global is aimed to continue to compete in the payment solution market. Through this 10-year contract, ID Global is bringing a much needed electronic payment solution to the Latin market while expanding their reach internationally and growing their client base.
To learn more information about ID Global Solutions, visit www.iimglobalcorp.com.
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