Welcome to the Cubic Transportation Systems blog! We will be posting about automated fare collection, contactless/mobile payment, and other new trends in transit fare collection. Follow us on twitter at @CubicTS for updates on our latest postings.
Check out our latest video explaining our Nextcity vision!
MasterCard has conducted a survey of over 1,600 Americansabout how paying for transit affected their daily commutes. Overall the survey found that people find itstressful to pay for transit fares with cash. 65% of commuters who use cash to pay their transit fares worried thatthey did not have enough money to pay for their fare, 44% worry about needingcorrect change, and 36% have been unable to ride mass transit because they didnot have enough money for the fare.
Convenience, accessibility and diversity are the key words for transportation fare collection in 2012. Momentum is building toward transit operators allowing riders to pay with contactless debit and credit cards as well as mobile phones for their transit fares.
The progression of transit ticketing systems into open payment systems is primarily being driven by the introduction and widespread adoption of contactless debit and credit cards as well as new programs designed for processing low-value transactions.
During Phase One of the pilot, PATCO riders could pay for all of their PATCO fares and parking expenses with the PATCO Wave & Pay ANYWHERE Visa® Prepaid Card. They also could use the same card for retail purchases – for example, to buy a snack at a convenience store or pick up dinner at the super market on the way home from work.
As summer arrives, Cubic’s leadership in open payment systems for revenue management is blossoming with the introduction of Nextaccount, the first of several new products in Cubic’s solution systems portfolio for the next generation of fully integrated Automated Fare Collection (AFC) systems.
The transit industry is on the verge of a transformation, and Nextaccount creates the ability for transit agencies to continue to reduce their cost of fare collection while improving the traveler and customer experience.