Transit-focused fintech solutions face a range of challenges depending on their intended use and target audience. For payments infrastructure providers like Cubic, which implemented New York City’s OMNY system, it’s hard to rapidly scale, given the relatively slow movement of public authorities as well as the limited number of public transit systems out there.

As a result, fintechs offering transportation solutions often complement these efforts with other sales channels and products, such as more B2C-focused solutions. Nevertheless, the windfall from massive contracts justifies their relative infrequency.

Demonstrating necessity

The runway for securing a major transit-agency contract can be years long. Before even issuing an invitation to tender, transit agencies have to be aware of the potential financial solution and its use case. Fintechs then may see a long-term ROI from mass campaigns highlighting the utility of their products to the general public as well as local authorities—such as through expert interviews in relevant media outlets and OpEds.

Such a move can help public authorities appreciate the need for more modern systems. It can also help officials justify the need for public expenditure on fintech-focused products, and earn public buy-in.

Identifying the right stakeholders

Broad-based efforts best succeed when paired with pinpointed outreach. That is, fintechs should make concerted efforts to interface with public officials tasked with deciding the solution they’re going with. At the same time, getting buy-in from key public figures, such as community organizations, former politicians, or other leaders, can help generate a broad coalition that leads to a secured contract.

Maintaining transparency

Granted, political outreach and lobbying can be a challenge—especially in terms of balancing optics with outcome. Fintechs should be clear about what drives their sales and marketing efforts: a belief that their solution can lead to positive outcomes, both for transit systems as well as the fintech’s long-term growth.