British Rail is exploring Bitcoin payments

It goes without saying that consumers around the world would benefit greatly from a single payment model for all forms of public transport. In the UK, that may soon change. The concept of a smart ticketing system is quite interesting, and Bitcoin will make the purchase process smoother for everyone.

New smart ticketing system in the UK

A single unified travel card for all modes of travel would be very useful, so there is no need to buy one ticket for the bus and another for the train. However, these industries are not all state-owned, so it would be difficult to unify them under one flag. In fact, there is no country in the world where one ticketing system applies to all modes of travel. Although the Oyster card is a very useful means of payment in the UK - both for locals and foreign visitors - it only works on the Tube and a limited number of ground transport systems. However, with so many different modes of travel today, not all journeys start or end in London.

The new smart ticketing system will be available across the UK, allowing customers to make contactless payments on a pay-as-you-go basis, meaning any bus journey, train journey or combination of transport can be paid for with ease.

Of course, using contactless payments for short journeys is never a big problem as fares are very low. But when it comes to long distance travel, public transport fares skyrocket. A train journey can easily cost you £50, and the journey isn’t that long.

A joint project between the rail industry and the contactless card industry will further explore the possibilities for both parties. If all goes well, even season tickets could be purchased with contactless payment, which in the long term could eliminate the need for passengers to print their own tickets.

Bitcoin will make contactless payments make a lot of sense

When it comes to contactless or mobile payments, it is difficult to find a solution that works for all travelers in the UK. Especially for local and foreign tourists, there is no unified payment method that allows them to buy tickets conveniently. Bitcoin is currently the only global currency in the world that does not need to be exchanged, so it can provide a solution.

If UK rail operators are planning to explore the possibility of contactless payments, Bitcoin should be taken seriously as a viable payment method. Most Bitcoin users have a wallet installed on their mobile devices, and most smartphones can make contactless payments. It would only make sense if these two technological wonders were unified into an ecosystem that allows everyone to buy public transport tickets with the currency they want to use.