Cubic, along with Transport for London (TfL) received another major honor for London’s contactless bankcard system.
After winning the ‘Technological Innovation’ award at the 18th annual Rail Business Awards. The premier event recognizes excellence and innovation in the United Kingdom’s rail sector. This is the eighth major award for Cubic and TfL’s contactless system.
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 350 million contactless journeys have been made across the network.
Cubic played a crucial role in the development of the payment system, spending three years researching and developing the Tri-Reader 3 to process contactless-enabled bankcards. It’s the first reader in the transport industry certified to read Oyster cards, Integrated Transport Smartcard Organization (ITSO) cards and Near Field Communication (NFC)-enabled devices.
More than one million journeys are made using contactless bankcard payments every weekday. In addition, bankcards from more than 80 countries are used on the London system, bringing a new level of convenience for the millions of visitors who visit London each year.
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