Key Takeaways from the IBTTA Tech Summit 2024: Navigating Tolling's Transformation

The International Bridge, Tunnel, and Turnpike Association (IBTTA) recently held its highly anticipated IBTTA Technology Summit in Atlanta from May 4 to 7, 2024. This event brought together industry leaders, payment innovators, and transportation experts to explore the cutting-edge advancements reshaping the tolling landscape.

Luis Guzman, VP of Strategic Partnerships at iCG Pay, attended the event and spent some time eagerly absorbing the insights and forging valuable connections. 

Here are some of his key takeaways:

IBTTA Tech Summit 2023 Highlights

The Summit buzzed with discussions on the rapidly evolving consumer behavior and its impact on tolling. Attendees discussed topics such as:

• Faster Payments and P2P Apps: The rise of P2P payment apps like Zelle, Venmo, and CashApp is changing customer expectations. Consumers demand a seamless and convenient payment experience, whether it's a physical or digital transaction.
• Centralized Interagency Settlement: Developing a national standard and streamlining processes could significantly improve operational efficiency, reduce costs, and provide accurate settlement and reconciliation within the tolling industry.
• Innovative Payment Gateways: Companies like iCG Pay, with their cutting-edge payment gateways, are well positioned to capitalize on the opportunities presented by the evolving tolling landscape.

Notable Discussions

• Adapting to Consumer Trends: Tolling agencies explored strategies to adapt to changing consumer behavior, offering multiple payment options to ensure a smooth and convenient payment experience.
• Backoffice Integrations: Attendees discussed the potential of seamless backoffice integrations, which could enable centralized settlement and improve operational efficiency across the industry.
• Future of Tolling: The Summit served as a springboard for progress, highlighting the exciting possibilities that lie ahead as the industry embraces new payment technologies and adapts to changing consumer behavior.

Networking and Collaboration

The IBTTA Technology Summit provided a unique platform for networking and collaboration. Industry leaders, payment innovators, and transportation experts used the opportunity to explore potential partnerships and collaborations for growth and innovation.

Luis commented, "The IBTTA Tech Summit was a resounding success, offering invaluable insights into the future of tolling. As the industry continues to evolve, iCG Pay stands ready to lead the charge with our cutting-edge payment gateways and innovative solutions, ensuring a seamless and efficient payment experience for all."

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To learn more about iCG Pay's secure payment solutions, visit https://ach.icheckgateway.com/.