SAN DIEGO--(BUSINESS WIRE)--Cubic Transportation Systems (CTS), a business unit of Cubic Corporation (NYSE:CUB), announced today that it has received a contract worth US$7.6 million, or AU$10.2 million, from Transport for New South Wales (TfNSW) to deliver a trial of an open loop payments ticketing technology to Sydney, Australia’s largest city.
The trial, to begin in 2017, will allow Sydney commuters of participating payment schemes to tap their contactless bankcard directly on Opal readers at the trial site to pay for travel.
“Sydney is leading the way in this part of the world with the open payments technology, being the first city to deploy such technology in Australia and the Southern Hemisphere,” said Tom Walker, senior vice president and managing director of Asia Pacific, Cubic Transportation Systems. “Technology elements of both the London and Chicago systems will be incorporated in the new Sydney contactless project, leveraging the best of both combined with the award-winning Opal system.”
“The NSW Minister for Transport and Infrastructure, Andrew Constance, has announced his desire to transform TfNSW into a technology-driven organization and this is a clear demonstration of that strategy. Cubic is very proud to be part of this open loop trial,” added Walker.
Contactless ticketing was first launched on London buses in 2012 and then rolled out across the entire public transport system in the London capital in 2014. More than 600 million journeys have now been made, using over 12 million credit and debit cards from 97 countries, in addition to the use of mobile devices.
As part of Cubic’s technology delivery to Sydney, the Opal smart card ticketing system, which completed its rollout across all modes in late 2014 ahead of schedule and within budget, was intentionally “future-proofed” to enable the new open loop payments technology to be added-on once it had been proved in major world markets.
About Cubic Corporation
Cubic Corporation designs, integrates and operates systems, products and services focused in the transportation, defense training and secure communications markets. Cubic Transportation Systems is a leading integrator of payment and information technology and services to create intelligent travel solutions for transportation authorities and operators. Cubic Global Defense is a leading provider of live, virtual, constructive and game-based training solutions, special operations and intelligence for the U.S. and allied forces. Cubic Mission Solutions provides networked Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) capabilities for defense, intelligence, security and commercial missions. For more information about Cubic, please visit the company's website at www.cubic.com or on Twitter @CubicCorp.
