For those in the transit industry, it’s easy to get lost in the jargon. Terms like card-based, account-based, open-loop and ...

A great example of a closed loop system is TfL’s Oyster card, which many customers still choose to use on its network despite the availability of an open loop alternative. Closed loop systems rely on ...

Open-loop systems lack support for more flexible fare structures unless layered with complex eligibility processes or closed-loop add-ons.

Unlike open-loop payment gateways, which enable transactions between numerous platforms and merchants, closed-loop wallets are restricted to a specific setting.

In conclusion, open-loop wallets function across different merchants, closed-loop wallets are tailored to certain brands or retailers, and semi-closed-loop wallets integrate features of both ...