Easy and reliable mobile payment for travel tickets

A mobile phone can already be used for almost anything: photography, gaming, music, email and browsing. IQ Payments want to make hundreds of millions of mobile users everyday life easier by introducing new possibilities to use their phones also in travel related payments.

IQ Payments has developed a mobile payment and ticketing solution that allows the phone user to buy travel tickets and, optionally, entry to an event like a concert or play at the same time. The free app, which runs on Android, Apple or Windows phones, handles ticket purchase and payment rapidly, easily and securely.

The company’s chief executive and senior partner Tuomo Parjanen tells that their first ticketing application was based on SMS but its prospects were not impressive enough. They realised there was a need for a fully functional mobile application that would make ticket purchase easier yet secure.

What makes your payment and ticketing solution superior?

“First of all, the PayiQÒ app allows a variety of ticket types. With a combination ticket, for example, the user can ride on local public transport and also gain entry to a theatre, exhibition or whatever. We aim to serve customers along the whole travel chain, so that they don’t need to carry many different pieces of paper.”

“Tickets can be charged to a credit or debit card or handled by the mobile phone operator using direct billing. The application creates the ticket, gives it a barcode and can produce a monthly transaction summary if the customer wants one. The app’s fraud prevention and risk management software eliminate abuse and makes the payment transaction highly secure for the ticket buyer and seller alike.”

“We can ensure that the ticket is used only by the person who purchased it and only on the phone used to purchase it. The ticket code cannot be photocopied. In ticket readers we use validation software, which can be installed in the payment terminals of buses, for example.”

Ticket sellers can directly modify all their products, prices and validity periods in real time. Mobility operators are entirely free to set how their products are used.”

“Another supreme advantage of our mobile application is its open development interface. This allows it to be integrated with the other business systems of the ticket seller.”

What forms of international cooperation do you seek?

“Our company is strongly oriented towards internationalisation. We firmly believe that, over the next two years, more than half of our turnover will come from overseas markets. Our aim today is to reach out to the best payment service providers around the world. We have already signed cooperation agreements with partners in Australia and Germany and our company has a presence in Spain and Morocco, too.

More information
Tuomo Parjanen, chief executive and senior partner, tel. +358 500 528 295, tuomo(at)iq-payments.com


iQ Payments is a part of the Tekes Witty City programme.

IQ Payments is participating in the Smart City Expo World Congress being held on 17-19 November 2015 in Barcelona. Drop in at the Finnish pavilion and see what we can contribute to the smart cities of the world.


Eero Lukin
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