Post by icemandios on Apr 28, 2023 13:18:39 GMT
Conduent Introduces First-Of-Their-Kind Digital Payment Solutions For Tolling And Other Transportation Uses
Future solutions could expand options for bus and rail transit operators, parking authorities and other public sector uses
FLORHAM PARK, N.J., April 28, 2023 (GLOBE NEWSWIRE) -- Conduent Transportation, a global provider of smart mobility technology solutions and business unit of Conduent Incorporated (Nasdaq: CNDT), today announced new digital payment solutions , using real-time payments over the RTP ® network, for the transportation sector. The solutions will make billing and paying tolls faster, easier and more secure for transportation agencies and toll road users. The new digital solutions, the first-of-their-kind in the transportation industry, could later expand payment options for bus and rail transit operators, parking authorities and other public sector uses, such as traffic fines.
The solutions are offered through Conduent’s Digital Integrated Payments Hub , powered by a collaboration with financial services leader BNY Mellon. The hub allows businesses and government agencies and their customers to access faster and more secure cost-effective options to send, request or receive payments.
The digital solutions build on Conduent’s more than 50 years of experience in managing payments on behalf of transportation and other public sector clients to now offer multiple modes of payments for agencies and motorists. Conduent currently processes nearly 12 million tolling transactions every day, or more than 4.3 billion annually, and manages approximately 48% of the transactions of the top 10 U.S. tolling agencies.
Tolling transactions via digital payments can happen in a matter of minutes, simplifying the payment process for agencies and drivers. Real-time payments over the RTP network are also irrevocable and significantly reduce administrative and processing costs, while helping to modernize the customer experience. For example, if a tolling account has insufficient funds to pay a toll, agencies will be able to quickly send an SMS notification to the vehicle’s registered owner, offering a real-time digital payment option. A bill is automatically generated via Conduent’s payment hub and routed to the owner’s bank account. The owner then receives a notification from his or her financial institution and authorizes payment, allowing the cash to be applied to the account.
“Today’s public is rapidly adopting – even expecting and demanding – more digital payment options to make their financial transactions faster and more convenient, while providing peace of mind about security,” said Lou Keyes, President of Transportation Solutions at Conduent. “Building on our leadership positions in government payments and tolling, our Digital Integrated Payments Hub now makes it possible to extend real-time payments to tolling agencies and those they serve, as well as other transportation segments and activities requiring billing and payments. Digital payments reduce costs and improve agencies’ revenue collection while enhancing the experience for their patrons.”
Overall program benefits to the public for Conduent’s real-time payment capabilities include reduced violation rates and late fees because invoices and charges now can be paid immediately. People will gain improved convenience, flexibility and control over their payments, accounts and funds. For example, drivers can schedule future payments without needing to maintain an account balance.
For transportation agencies, the benefits of digital payments include increased revenue predictability and speed of collections. They can avoid complex and lengthy processing while reducing those associated costs. Digital payments will also allow transportation agencies to offer an improved and more satisfying experience.
About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating exceptional outcomes for its clients and the millions of people who count on them. Through a dedicated global team of approximately 60,000 associates, process expertise, and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including delivering 43 percent of nutrition assistance payments in the U.S., enabling 1.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 12 million tolling transactions every day. Learn more at www.conduent.com .
RTP is a registered service mark of The Clearing House Payments Company L.L.C.