Cubic and Transport for London’s Bankcard Payment Wins Gamechanger for Contactless and Mobile Awards

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System awarded again for innovation and changing the way people travel

Cubic Corporation

Cubic Corporation

As one of the first major cities in the world to accept contactless debit and credit cards for travel, we are confident this system is not only a ‘gamechanger’ for London, but also on a global scale.

Cubic Transportation Systems, a business of Cubic Corporation (NYSE:CUB) and Transport for London (TfL) have again been recognized for innovation for their contactless bankcard payment system, winning the Gamechanger category at the Contactless and Mobile Awards last night in London.

The award is presented to the company with the most convincing business idea using Near Field Communication (NFC), contactless or mobile technologies.

The contactless bankcard payment system developed by Cubic and TfL has changed the way thousands of people travel in London. In just six months more than 60 million contactless journeys have been made across the network.

John Hill, managing director of Cubic Europe said, “Cubic and TfL have a long history of introducing innovative ways to travel and contactless bankcard payment is another example of this. As one of the first major cities in the world to accept contactless debit and credit cards for travel, we are confident this system is not only a ‘gamechanger’ for London, but also on a global scale.

“Cubic and TfL worked together to create and implement a Transit Transaction Model, which made using contactless cards as a payment method on transport available to all operators on the TfL estate, as well as creating a model that can be replicated by transport operators and authorities worldwide,” Hill added.

The project began in December 2012, when contactless payments were introduced to London’s bus network. Contactless was extended across the entire network in September 2014 following successful trials.

Cubic developed the Tri-Reader 3 specifically for the project to process contactless-enabled bankcards. It is the first reader in the transport industry certified to read Oyster cards, ITSO cards and NFC-enabled devices.

The Gamechanger award comes a week after Cubic and TfL won the Forward Thinking Award for Innovation at the ITS UK awards and is the fifth award Cubic and TfL have won for the new contactless bankcard system this year.

About Cubic Corporation

Cubic Corporation is the parent company of two major businesses, Cubic Transportation Systems (CTS) and Cubic Global Defense (CGD). CTS is a leading integrator of payment and information technology and services for intelligent travel solutions around the world. CGD is a trusted provider of realistic training systems, C4ISR solutions, and highly specialized support services for the U.S. and allied nations. For more information about Cubic, please visit the company's web site at http://www.cubic.com.

Media contacts:
Margaret Mentz
HAMG360
PH: +44 (0)208 315 7944
Margaret(at)HAMG360(dot)com

Nina Jimenez Taylor
Corporate Communications
Cubic Corporation
PH: +1-858-505-2003
nina.jimeneztaylor(at)cubic(dot)com

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Nina Jimenez Taylor
Cubic Corporation
since: 01/2011
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