Cubic and Transport for London Recognized for Innovation at London First Awards
January 26 2017 - 6:00AM
Business Wire
List of industry awards grows for Cubic and
TfL’s contactless bankcard payment system
Cubic Transportation Systems (CTS), a business unit of Cubic
Corporation (NYSE:CUB), and Transport for London (TfL) received the
“London First Award for Innovation” at the London First Awards for
bringing contactless bankcard technology to public transit in the
capital. This is the ninth major award since 2015 recognizing Cubic
and TfL’s contactless payment system.
The awards ceremony, which took place at the British Museum,
London, on January 25, celebrated London First’s milestone
anniversary and its major achievements over the past 25 years.
London First, of which Cubic is a member, is a non-profit
organization that promotes business interests in London.
Launched in 2012, the contactless bankcard system was extended
in 2014 to cover London’s entire transit network – including Tube,
rail, bus and tram services. Since the introduction of
the contactless payment scheme, more than 800 million
contactless journeys have been made across the network. In 2016,
Cubic and TfL agreed on a licensing deal for the use of London’s
contactless ticketing system worldwide, allowing Cubic to bring the
state-of-the-art technology to other major cities around the
world.
“We are honored that London First has named our technology as
one of the major achievements in the last 25 years,” said Shashi
Verma, TfL’s Chief Technology Officer. “London’s transport system
is renowned around the world, from the first Underground railway
network in 1863 – to now introducing world leading contactless
bankcard technology to make travel around the city simple and
convenient for our customers. Our pay-as-you-go fare collection
system has completely transformed the way millions of commuters pay
for travel every day, with more than 800 million journeys now made
using contactless payments using cards from around 100 countries
across the world.”
“We could not be more pleased to be recognized by London First
for the innovation we are bringing to commuters,” said Roger Crow,
executive vice president and managing director of Europe, Cubic
Transportation Systems. “We are thrilled that our long-standing
partnership with TfL helps ensure transport plays a pivotal role in
helping London First on its mission of making this great city the
best place in the world to work, study and play.”
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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Zeno GroupHannah WilliamsDirector, Technology+44 20 3047
2675hannah.williams@zenogroup.comorCubic CorporationLaura
ChonCorporate Communications+1 858-505-2181laura.chon@cubic.com
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