FarePay is literally the smart way to get around. On a typical day in Lagos, there are tons of people queuing up at BRT terminals, trying to purchase tickets to get in the buses. If you’re in a hurry – and everyone usually is, a card that lets you get in without any hassle could make all the difference in the world. It could also determine if you get to take a seat or stand through the ride until the next stop, should someone get off and open up a seat.
On some bus terminals, it isn’t uncommon to find that there are no ticket sellers in sight. This would mean having to somehow find a way to get to the next terminal – a few kilometers away, to purchase a ticket that lets you get on the bus. If there are sellers there too, that is. Having a FarePay card can help solve this, as you could indicate to an oncoming driver that you have a card. Another major problem is the change situation at terminals, where ticket sellers are unable to give out change to people purchasing tickets. Having a FarePay card shields you from such issues.
How Does it Work ?
FarePay is a smart contactless card that works using Near-field Communication technology. It houses an NFC chip which can store data like your name and bank information to help you initiate payments for services via another NFC enabled device. The FarePay card can be topped up using online transfers, ATM and/or via USSD codes. When you get in a BRT, you basically place the card close to the device and, once the transaction happens – in seconds, you get in the bus. Easy.
Is it Secure ?
Yes, it is. While it is true that NFC devices can communicate with each other in close proximity, and that hackers with malicious intent might be able to use another NFC device to extract info from your card, it is highly unlikely that this will happen. The optimal distance for NFC devices to establish a connection and initiate data transfer is about 4 cm (or 1.5 Inches). For anyone trying to extract your data illegally to succeed, they would basically have to be hugging you or be really uncomfortably close to you to achieve it.
This optimal distance factor is the same reason why cards won’t be charged indiscriminately, regardless of whether they are within range or not. You literally have to place your card directly in front (4 cm or less) of the sensor to get billed.
One way to ensure that your card is safe at all times is to keep them in your wallet, when not in use. The same way you keep your ATM cards away when they’re not in use, apply the same discretion to your FarePay card. While this is a measure against physical threats like the card getting stolen or missing, it is also a useful safety measure against the card being seen by another NFC device held by someone with malicious intent. A sleeve over the card distorts or diminishes the transmission signal on the card and makes it harder to be detected by other devices.
Another thing to note about the FarePay card is that only Transport transactions do not require a PIN; all other transactions on other channels (ATM,POS & Web) will require you to enter a PIN. The Chipset on the EMV (Europay, Mastercard and Visa) card also has the following features built in to boost security:
- EMV is designed to prevent fraud
- It is really hard to clone
- It has sophisticated encryption
- It is PCI DSS Certified (Payment Card Industry Data Security Standard)
How To Get FarePay
The easiest way to get yourself a FarePay card is to register for one on the website. Also, FarePay cards are available at all FarePay Agent locations along the Ikorodu to TBS corridor. For additional inquiries, visit www.farepay.ng to find out how you can start riding and getting around, the smart, cool way.
Jan. 18: Bonus Built in Africa episode: Town Hall meeting with Peter Salovey, President of Yale University
On March 25, 2021, Techpoint Africa will be hosting the brightest minds in decentralised finance/crypto at the Digital Currency Summit tagged “Building the money of the future” Click here for more details, registration and sponsorship. Location: Fourpoint by Sheraton, V.I. Lagos.