The smart city is the future of urban development: it’s more efficient, more sustainable and gives residents a better quality of life. But what makes a city smart?
One important element is payments. A seamless, convenient payments system makes it easier for citizens to move around, interact with city authorities and even reduce their environmental impact.
How exactly can payments transformation make cities smarter, better places to live, and why should governments be paying attention?
Here are four reasons why government needs to jumpstart its smart city strategies:
Rising competition for residents and businesses
Smart, integrated payments transformation can improve citizen lives at every level, but many finance leaders report problems with customer satisfaction.
of government finance leaders report that customer satisfaction in their organization has decreased in the last 12 months
Citizens expect leaders to focus on social equity
Governments must offer solutions for all citizens and our deep dive will show how to account for the unbanked, even given the popularity of card payments.
of government finance leaders say their citizens' most preferred payment method is physical card payment (debit, credit, or prepaid)
Net zero communities are the future
Increasing opportunities for digital payments to those that are able allows local government leaders to take action that lowers environmental impact, and reduces paper billing and waste associated with using physical cards.
of government finance leaders say contactless card payments are most popular with their citizens
Funding is a growing challenge
Cost savings are a priority in a volatile economy experiencing inflation, rising wages, and higher overall living costs.
of government finance leaders we surveyed either agree or strongly agree that keeping payment acceptance costs low is crucial to controlling expenses
How are other industries using payments to increase resilience?
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