March 17, 2009

Cubic to expand bank card acceptance for transit

Cubic Transportation Systems Inc., a subsidiary of San Diego-based Cubic Corp. and fare collection systems provider for public transportation, is providing new capabilities for the Cubic designed Tri-Reader to enable an all-in-one reader that will process bank cards, prepaid cards and smart card-enabled mobile phones. This new capability is made possible through an exclusive software development and licensing agreement with ViVOtech, provider of point-of-sale (POS) readers for contactless and Near Field Communication (NFC) mobile phone payments.

With more than 50 million contactless bank cards issued in the U.S. and growing interest among transit operators to add bank card acceptance as a way to pay fares for train and bus rides, this enhanced feature set will add a new level of convenience for those passengers carrying such products. Transit patrons will have the ability to tap a variety of products from various issuing groups as they board trains and buses.

Under the agreement, Cubic will integrate ViVOtech's contactless payment software into the latest generation Tri-Reader platforms and will obtain type certification for MasterCard Paypass, Visa PayWave, American Express and Discover cards, which will enable contactless bank card acceptance at Cubic fare collection devices for public transit.

With the new software, the Tri-Reader, a secure, ISO 14443 Type A- and Type B-compliant smart card processor, will provide a single reader that will seamlessly accept contactless bank cards; innovative new prepaid products like the First Data GO-Tag solution; and emerging NFC mobile phone technology, as well as currently issued transit cards and those conforming to national transit standards.

ViVOtech's readers and software are used by more than 70 percent of merchants that accept contactless bank cards. As part of overseeing the Tri-Reader certification for bank card processing, ViVOtech will also maintain the certifications as network regulations and operating rules evolve.

 

 

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