Flit Technologies and COMO launch payment solution for urban mobility industry

Flit Technologies, an urban mobility innovator and intellignt payments speicalist, COMO Global, have announced the launch of a new company called COMO Urban Mobility which provides a payment solution designed especially for the urban mobility industry.

Urban mobility encompasses all of the trips made in a city and all of the modes and mehtods of transport used for making them. COMO Urban Mobility will provide urban mobility merchants with a complete payment solution including automated reconciliation by transaction, invoicing and payment fulfilment.

“We believe that technology should simplify payments and we remove the complexity being experienced by today’s digital merchants,” Angela Nickel, chairwoman at COMO. “Nowhere is this greater than in the urban mobility industry, which is experiencing such rapid change. COMO Urban Mobility will provide the urban mobility industry with a simpler, faster, and more cost-effective payment process.”

The company will provide a complete payments solution, including automated reconciliation by transaction, invoicing and payment fulfilment. It also enables automated dynamic payment routing and payment splitting, useful for the pay-out of the supply chain and cross-channel transactions.

For urban mobility merchants, this makes payments and managing cashflow simpler, cheaper and faster. It is particularly useful for travel merchants such as travel management companies and travel marketplaces where transactions involve many suppliers and providers.

Flit Technologies is backed by RCI Bank and Services, a French bank specialising in automobile financing and services, whose ambition it is to capitalise on the opportunities offered by digital technologies to develop mobility solutions adapted to the new usages of its customers.

“Flit Technologies’ mission is to make urban mobility easier, better and more sustainable for everyone,” said Nicolas Andine and Boris Pilichowski, joint-CEOs of Flit Technologies. “We are building a global, open and transparent mobility ecosystem that serves everyone. One of the pain-points of the industry is payment. COMO Urban Mobility is a payment solution designed specifically for the industry, enabling us to add more value to the urban mobility industry.

“Urban mobility merchants are being challenged by the complexity of today’s payments world. COMO Urban Mobility simplifies the process, so providers of urban mobility can focus on what they do best without being distracted by the management of payments.”