Delinquency
Delinquency rates (90+ days) in Canada for credit cards inched up slightly in the second quarter. However, overall delinquency among all loans declined by more than 4%.
RMV & Cubic
Rhein-Main-Verkehrsverbund (RMV), one of Europe’s largest transport associations, has sold five million tickets through its Cubic-developed mobile ticketing app.
Oyster Card Award
Cubic Transportation Systems and TfL (Transport for London) have been awarded Best Bank-Card Ticketing Scheme at the 2015 Transport Ticketing Awards on January 27.
Cubic & ParkPlus
Cubic Transportation Systems has signed a letter of intent with the Calgary Parking Authority (CPA) of Calgary, Canada to deliver transit and municipal parking solutions leveraging CPA-developed technology.
Canuck M-Payments
Canada Mobile Payments is here. The company has developed unique intellectual property within the mobile payments ecosystem to assist all businesses. The company has built a plethora of mobile payments processes & digital currency transfer opportunities enabling customers to use smartphones & wearable devices to their advantage.
Cubic Payment Application Software Achieves PCI-DSS Certification
Cubic Transportation Systems payment and information technology and services for intelligent travel solutions, announced that the latest version of their Cubic Payment Application (CPA 3.0) has been successfully “Validated According to PA-DSS v2.0” by the PCI Security Standards Council, and is listed as “Acceptable for New Deployments” on the Payment Card Industry Data Security Standards (PCI-DSS) website. CPA 3.0 is architected to provide optimum performance for securely processing legacy closed-loop payments (such as agency issued transit smartcards) as well as emerging forms of payment including open-loop (bank-issued contactless cards), mobile and EMV payments.
AJB Launches mPayments for Petroleum & C-Stores
AJB Software Design integrated payment solutions launched its “FIPay Mobile” mobile payment application that allows Android and iPhone users to pay for gas purchases using their mobile phones while remaining in their car. It provides petroleum retailers the opportunity to attract new mobile-savvy consumers by deploying customized mobile applications without the need to make new investments or changes to their POS infrastructure. AJB unveiled the first mobile payment application in the Canadian Petroleum industry, through a successful pilot deployment at Hughes Car Wash, a Petroleum & C-Store retailer, based in Edmonton, Alberta. Consumers can now pay for gasoline and car washes with their mobile devices at the Hughes Car Wash flagship location in Edmonton, with plans to roll out the solution to additional locations over the next year. AJB’s “FIPay Mobile” is responsible for integrating with the PIN pad device and fuel pumps in the petroleum sector and is PCI-compliant through Cogeco, a PCI-DSS validated service provider.
Posera-HDX Acquires Payment Switch Company
Posera – HDX Limited announced that it has completed the acquisition of the payment switch company, Cash ‘N Go, for $450,000. Renamed HDX Payment Processing, the purchase price was satisfied by the issuance of 1,000,000 Posera-HDX common shares at $0.45 cents. Cash N Go, established in 1998, owns and operates a Postillion payment switch developed by S1 Corporation. The Company has historically processed approximately 8 million ATM transactions annually and Posera-HDX plans to upgrade the payment switch to facilitate the processing of Point-of-Sale transactions for its merchant client base.
Chicago Open Standards Fare System Inks Cubic Contract
Cubic Transportation Systems has been selected for contract award by the Chicago Transit Authority (CTA) to integrate, deliver, operate and maintain the agency’s next-generation open payments system that will accept bank cards and, ultimately, mobile phone payments. The contract has an estimated value of $454 million, making it the largest automated fare collection contract ever placed in North America. Cubic will operate and maintain the entire system, resulting in an overall 12-year partnership between Cubic and the CTA. Riders without credit or debit cards will be issued reloadable prepaid debit cards that can be used for everyday purchases and CTA rides.
Cubic to Test Open Payments with PATCO
Port Authority Transit Corporation (PATCO) High Speed Line customers will be able to pay transit fares with their credit or debit cards in 2011 thanks to agreements with Cubic Transportation Systems. The PATCO commuter line connects New Jersey Transit and the Southeastern Pennsylvania Transportation Authority and will implement the Cubic “open payment” technology on the “FREEDOM” card across its 14-mile line between Lindenwold, New Jersey, and Philadelphia, and will simplify how customers pay their fares by eliminating the need to carry a separate transit payment card. This agreement will ultimately reduce the costs associated with managing and distributing fare media and offer travelers a convenient payment method. Eventually, any bank card with a contactless chip will be accepted on the PATCO system.
Cubic Signs $220mm Contract to Design Smart Card Faregate
TransLink, the Greater Vancouver transit authority, has awarded Cubic Transportation Systems a contract valued at $220 million to deliver and operate a new smart card fare payment and revenue management system for the region’s rail, bus, ferry and paratransit services. The base contract for $84 million includes the design, build and installation of the system, which will include new faregates, to be delivered by 2013. Following delivery, a 10-year services contract valued at approximately $13 million per year, plus a one-time $6 million transition cost, will begin. The contract includes an option for five additional years of services. TransLink’s new system will be built on Cubic’s “Nextfare” technology, giving transit operators better reliability, revenue recovery from fare evasion and valuable business data to support planning and transit services.
S1
Cubic Transportation Systems – Australia, a subsidiary of CA-based Cubic Corporation, celebrated the issuing of the one millionth “go card” in July. The Cubic-installed and operated “TransLink” smartcard ticketing system in South East Queensland was fully installed across TransLink buses, ferries and rail in mid 2008. The TransLink network covers an area of more than 10,000 square kilometers, from Brisbane to Coolangatta on the south coast of Queensland, up to Gympie and west to Helidon. The state’s Transport Minister Rachel Nolan, who attended the July ceremony with the Premier, said the smart card take-up rate had been phenomenal, with the 100 millionth go card trip being taken last month, less than two years after the roll-out was completed. With this, the number of trips taken using the go card had shot up from 33% to 60% over the past year. Between January and March 2010 there were 23.6 million go card trips, more than double the amount for the same period last year.