Article Highlights
Translink Systems of the Netherlands kills a deal to have a Dutch neobank, bunq, issue an EMV-enabled card to replace the country’s long-established closed-loop card. The concept of replacing closed loop with bank-issued cards has failed elsewhere, as well.
OVpay, which is the first major nationwide open-loop system globally, would likely only account for 25% to 30% of total rides by the end of 2025, acknowledged the program director, Bas van Weele, at the time.
• Translink (Netherlands)
• bunq
• TfNSW (Sydney)
• CTA (Chicago)
• Visa
• Mastercard
The recent break between Dutch transport-ticketing agency Translink Systems and Netherlands-based neobank bunq is another setback for the idea of using prepaid bank cards in place of closed-loop fare cards for agencies already offering open-loop payments.
Bunq faced a lot of restrictions in how it could profit from issuing the card, such as a ban on using
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