LECIP INC. Secures Contract for the Farebox Cash Collection system in Houston, Texas

LECIP INC., a subsidiary of LECIP Holdings Corporation, is proud to announce the successful acquisition of a contract to supply the farebox cash collection system to the Metropolitan Transit Authority of Harris County (METRO) in Texas through INIT Innovations in Transportation, Inc.

BENSENVILLE, Ill.--(BUSINESS WIRE)--LECIP Inc., a subsidiary of LECIP Holdings Corporation (TOKYO:7213), is pleased to share the news of its recent achievement in securing a contract for the provision of the farebox cash collection system to METRO, a prominent public transportation authority headquartered in Harris County, Texas. The LECIP’s portion of the contract encompasses the development and implementation of the farebox cash collection system, as well as maintenance and operational support. The delivery of the Farebox Cash Collection system portion of the overall project is scheduled to commence in 2024. This contract also includes the option for an extension for the maintenance and operational support. If all options are exercised, it makes the largest project in the United States in the history of LECIP Inc.

INIT will supply and implement the electronic Automated Fare Collection system, including the contactless fare validators, ticket vending machines, and the account-based back-office fare management system. LECIP Inc. will act as a subcontractor, responsible for providing approximately 1,400 bus fareboxes, including spares, as well as the cash collection and cash-related aggregation system. The Farebox Cash Collection system from LECIP Inc. will cover all of METRO's buses, totaling 1,236 vehicles.

The fareboxes to be introduced in this project are specially designed for cash transactions and are recognized for their user-friendly interface. Moreover, the back-office cash-collection system will be delivered through LECIP Inc.'s cloud service platform.

METRO, based in Texas, serves the southern Texas region, particularly in and around Houston. The transportation authority operates 101 bus routes with a fleet of 1,236 vehicles and transported approximately 40 million passengers during the 2022 fiscal year.

LECIP continues to expand its customer base by its continuous investment and strong after-sales support in the US Automated Fare Collection (AFC) market.

[Quotes from LECIP]

"We are delighted to collaborate with INIT and provide cutting-edge fare collection solutions that will enhance public transportation in Texas." – Haruo Nagano, CEO of LECIP Inc.

[Quotes from INIT]

"We are excited to partner with LECIP INC. in modernizing Houston's public transportation network, combining our advanced fare collection systems to significantly improve the daily commute for millions of riders." - Andy Singh, COO, INIT

About LECIP

LECIP Inc., a subsidiary of LECIP Holdings Corporation, is a renowned expert in Automated Fare Collection (AFC) systems and electronic payment solutions, offering innovative technology solutions to enhance public transportation services.