PaymentsSource, a publication that focuses on news and analysis about credit card, debit card, mobile payments and other technology and trends in the payments industry, interviewed Council Chairman Jesse Berst about how payments will fit into the larger digital ecosystem of smart cities.
PaymentsSource: As city governments eye new tech, payments play a vital part
Highlighting a case study featured in the Smart Payments chapter of the Smart Cities Readiness Guide, Berst explained how the city of Toronto saved $2 million a year by switching from cash and checks to debit cards for their social benefits payments.
"Those people get their money a lot faster and spend it at merchant locations in the city," Berst told writer David Heun.
You can read the full interview on the PaymentsSource website; a free trial registration is required.