Smart Payments and Finance

Smart Payments and Finance

10/27/2015

“More with less” is one of the promises of smart city technology -- and nowhere is this more true than in payments and finance. By leveraging the techniques explained in this chapter, city governments can spend less while offering citizens more benefits, more convenience and more inclusion. Today cities are the hub of world economic growth, generating an estimated 80% of global GDP, according to the World Bank. Yet many cities are severely challenged by rising (or slowing) population growth, by aging or inadequate infrastructure, by increasing operational costs and by “do more with less” austerity pressures.

Ontario CITY Expects to Save $100,000 Annually with Infrastructure Planning

With the ability to visualize infrastructure and analyze maintenance costs - including how long major assets such as roads or pipes will last - cities can save time and money in the planning process and millions in construction and maintenance costs. Even modest-sized cities often own more than $1 billion in assets and spend millions each year maintaining them.