About Cubic Corporation
Cubic Corporation designs, integrates and operates systems, products and services focused in the transportation, defense training and secure communications markets. As the parent company of two major business units, Cubic’s mission is to increase situational awareness and understanding for customers worldwide. Cubic Transportation Systems is a leading integrator of payment and information technology and services to create intelligent travel solutions for transportation authorities and operators. Cubic Global Defense is a leading provider of realistic combat training systems, secure communications and networking and highly specialized support services for military and security forces of the U.S. and allied nations. For more information about Cubic, please visit the company's website at www.cubic.com or on Twitter @CubicCorp.
Media Contact
Debra Montner
Montner Tech PR
PH: 203-226-9290 ext. 112
Cell: 203-984-7861
dmontner@montner.com
John MacGregor
PH: 0414 445 447
mac@macpr.com.au
SAN DIEGO – April 18, 2016 – Cubic Transportation Systems (CTS), a business unit of Cubic Corporation (NYSE: CUB), welcomed the announcement that a customer open payments trial will commence in Sydney, Australia in 2017, enabling Sydney to have London-style open payments ticketing technology. The trial would be a first for the southern hemisphere, providing a valuable test case for other Australian cities which have been contemplating open payments.
The New South Wales (NSW) Minister for Transport and Infrastructure, Andrew Constance, made the trial announcement at the opening session of the Future Technology Summit in Sydney, being held from April 18 – 19.
“For too long, NSW has lagged behind the world when it comes to transport – but that’s changing,” said Constance. “Contactless payment with credit and debit cards would offer customers another easy to use and convenient option for travelling. We're all about making Opal even better. Cubic and the team behind it have done an incredible job. Now we want to use the technology behind Opal to further enhance the system."
Cubic had undertaken discussions with Transport for New South Wales about open payments while they were investigating the new technology.
“The Sydney trial is a very exciting development, having the potential to leapfrog Sydney up into the ranks of a select group of leading cities embracing the new technology,” said Matt Cole, president of CTS. “Open payments represent a major advance into the future with ticketing technology. For commuters, it means an end to topping up funds on a smart card and a convenient option. For transport operators, it means expanded customer services and potential efficiencies.”
Cubic originally pioneered and rolled out the world’s first open payments system with Transport for London, beginning with a customer trial on buses in 2012. Since full deployment in 2014 across the entire London public transport system, open payments has skyrocketed in popularity, and now account for about one million trips a day. Approximately 22,000 new users join the system, every day and it now accounts for more than 25 percent of all trips in London.
“In Sydney, open payments would continue to operate alongside Opal, as in London. It’s not a replacement for smartcard ticketing, but an enhancement to the system to provide more options for commuters,” said Cole.
In Australia, more than 15 million trips are taken every week using the Queensland go card and the NSW Opal systems, both installed and operated by Cubic.
Cubic is also one of the companies shortlisted to take over operating the myki system in Melbourne.