SAN DIEGO, Oct. 25, 2017 /PRNewswire/ -- Cubic
Corporation (NYSE: CUB) today announced that its Cubic
Transportation Systems (CTS) business division was selected by the
New York Metropolitan Transportation Authority (MTA) to replace the
iconic MetroCard with a proven, next-generation fare payment system
similar to that used on the bus, Tube and rail services operated by
Transport for London (TfL). The
base contract award is $539.5 million
with additional options worth $33.9
million. The award has been approved by the MTA's
Board and is subject to contract finalization.
"Today's vote is a tremendous win for New Yorkers, paving the
way for flexible payment options, a streamlined trip through the
region's public transit, and updated equipment that will help save
money in operating costs. Together with Cubic, we look forward
to building the MTA of tomorrow," said Joseph J. Lhota, chairman of the MTA.
"We are extremely pleased with being awarded this contract,
which reinforces Cubic's position as the industry leader in
advanced transportation payment and information solutions," said
Brad Feldmann, president and chief
executive officer of Cubic Corporation.
"Cubic helped revolutionize fare payment with the MetroCard's
introduction in 1992 and we are honored to play an important role
in the future of mobility in New
York," said Matt Cole,
president of Cubic Transportation Systems. "Cubic's solution not
only provides customers with a better and faster way to pay for
transit, but also creates expanded economic opportunity for New
Yorkers and job creation across the state through the involvement
of minority and women-owned enterprises to help implement the new
system."
The new system allows customers to create personalized transit
accounts to see ride history, check balances, add value as well as
report lost or stolen cards to protect their funds. They will also
have the option of using payment media such as credit and debit
cards and mobile devices at the bus or turnstile, instead of
purchasing and adding value to a separate fare card, to offer a
retail payment experience to transit. For those customers without a
bank card or who prefer not to use one, a contactless card option
will still be available with the same account management
convenience features. Mobile phones can also be used like ticket
vending machines to check account balances and recharge fare
accounts anywhere. As a result, customers will experience greater
convenience and shorter lines, allowing them to move faster through
the transit system.
The initiative will reduce costs for the MTA by significantly
reducing the dispensing of fare media, will streamline fare
calculation and phase out 20-year-old equipment that is more costly
to maintain each year. Ultimately, the new system will provide an
enhanced and integrated travel experience across the region
including seamless access to Long Island Rail Road (LIRR) and
Metro-North Rail Road.
"We are thrilled that Western New
York's productive workforce will contribute to the New York
MTA capital program," said Tom
Kucharski, President and CEO of Invest Buffalo Niagara.
"This innovative plan will help to stimulate economies all over
New York State, bringing new jobs
and opportunities to residents and businesses in the Buffalo
Niagara region."
"Modernizing the fare payment system is a boon for riders.
It will make public transit more convenient, more accessible and
more efficient," said John Raskin,
executive director of the Riders Alliance. "The new
fare payment system will also save money for the MTA, and that
savings can be used to improve transit operations for millions of
daily riders. Moving on from the MetroCard will be a win-win
for riders and the MTA."
Cubic will be responsible for the design, integration, supply
and implementation of the new fare payment system; associated
services for platform hosting, hardware and software maintenance;
and transition services including supplemental call center support.
Equipment will include fare validators and new configurable ticket
vending machines in the MTA's 472 subway stations and 6,000 buses.
The contract includes an option to support LIRR and Metro-North
Rail Road with the purchase of additional validation and vending
equipment.
Cubic's partners statewide will provide manufacturing, call
center and marketing services to the MTA. Transport for
London (TfL), operator of the
world's largest open payment and contactless-based fare collection
system, and Mastercard, a global leader in financial services with
a strong New York presence, are
also Cubic partners in the contract.
Shashi Verma, chief technology
officer at TfL, added, "As cities become smarter and more reliant
on public transport, technology like this provides customers with a
simple and convenient way of paying the right fare at the right
time, without the need to purchase a ticket. This contactless
ticketing system is helping commuters all around the world and it's
great that New Yorkers will benefit from the technology."
New York's transit system
customers will still be able to use MetroCards during the
transition.
Resources
- https://cubic.box.com/s/0417q4vjk62lgnt41veys7bpxitlwjs9
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.
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