TfL combines open and closed loop systems, using Oyster Cards, contactless card payments, and NFC Google or Apple pay, alongside physical ticketing. Transport for London (TfL) has long been regarded ...

Miroslav Katsarov is the CEO of Modeshift, a technology company bringing intelligent transportation to small- and mid-size transit agencies. Open-loop payments have emerged as a high-profile trend in ...

An ecosystem-specific digital payment system called a "closed-loop wallet" enables consumers to make purchases solely from one brand, retailer, or service provider. Users can add money to their ...

1. Close-loop wallet for merchants - An exclusive digital payment system for transactions within a specified ecosystem, such as a specific brand, store, or service provider, is referred to as a closed ...