In Other News: SYNCHRONY (La-Z-Boy); SVM (Peoples Trust); CUNEXUS (DCU); and GIFTLOGIC (receipts). SYNCHRONY – Synchrony Financial inked a multi-year extension of its private label credit card program agreement with leading national furniture retailer La-Z-Boy. SVM- Peoples Trust, a federally chartered prepaid card issuer in Canada, has expanded its issuing services to SVM, a leader…
The CO-OP Network has signed a deal to process and switch all of Digital Federal Credit Union’s ATM transactions. In addition to continuing to supply DCU’s more than 218,000 members with access to 18,000 surcharge-free ATMs nationwide, CO-OP Network will now be processing and switching all of DCU’s ATM transactions. CO-OP Network, established in 1981 and located in Ontario, Calif., is wholly-owned by its credit union shareholders and provides volume discounts on products and services that include risk management as well as debit and deposit access. Digital Federal Credit Union is a full-service, not-for-profit financial institution cooperatively owned by and operated for its members.
San Diego-based Cubic has introduced an on-vehicle transit ticketing system that issues bus riders paper transfers and processes contactless smart cards. The “Mobile Ticketing Machine” enables public transit authorities to accept multiple forms of payment, including cash, stored value tickets, time-based passes and smart cards. Cubic’s new “MTM” product expands the capability of the company’s “Driver Control Unit,” which was introduced to the public last year. Cubic is creating multi-agency, multi-mode regional fare collection systems in various areas such as London, Los Angeles, San Diego and the Northern Virginia-Baltimore-Washington, D.C. area, where regional bus and subway providers will be able to allow their riders to pay their fares with a common fare card. In London, the “Oyster Smart Card” is used; in the D.C. area, it is the “WMATA SmarTrip” card; and Cubic is performing a contract with the Port Authority Trans-Hudson rapid-transit rail system, where the company’s smart card technology will be integrated with New York City Transit’s “MetroCard” system.
San Diego-based Cubic Transportation Systems launched an on-bus processing platform designed to integrate automatic fare collection technology, including contactless smart card processing and farebox cash collection. The company also announced it will deliver its first Web-based transit ticketing and customer service function as part of its recently announced contract with the San Diego Metropolitan Transit Development Board and the North County Transit District. The new “Cubic Bus Controller” communicates with the depot computer and/or central computer system via WLAN or an optional wireless communications card to support real-time wireless communications. Additionally, the unit is designed to support a GPS receiver enabling location stamping of automatic fare collection transactions and the support of automated vehicle location. The new Web-based transit ticketing and customer service application, “Nextfare Web Services,” will allow transit consumers to purchase smart cards, transit passes, rides and stored value as well as conduct customer service functions, such as lost card reporting and administering automated transit benefit programs, at any time and from any location with Internet access. Web Services efficiently distributes Internet purchases by electronically delivering the fare product or value to the smart card when a patron presents his or her card to the reader at the gate, vendor, farebox or validator. This functionality is made possible by Cubic’s “Nextfare” terminal architecture, which creates an Internet Protocol addressable PC environment at each fare processing point, whether at the station or on the bus. This electronic delivery feature reduces administration and fulfillment costs for the transit agency and gives transit consumers the convenience of making purchases in near real-time. Off-premises and off-vehicle purchasing gives transit consumers a convenient alternative to standing in line at ticket vending machines or booking offices. It reduces the life cycle costs of fare equipment and improves customer throughput and on-time schedules for the transit agencies.