Using technology and insights to create a better transit
experience – Over $200 bn in fares are still paid in cash
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BARCELONA, Spain--(BUSINESS WIRE)--
At Mobile World Congress, MasterCard
today announced a global partnership with Cubic
Transportation Systems, a leading provider for smart city solutions
across North America, Europe, Middle East and Asia-Pacific. The alliance
is designed to help the millions of daily commuters around the world
experience faster, more convenient and personalized ways to get around,
tapping into the power of their mobile devices.
With more than half of the world’s population already living in cities,
many transportation systems have reached capacity. Transportation
authorities are looking for ways to better manage existing demand and
create investments in new infrastructure. The penetration of smart
devices is opening up new opportunities for service operators to connect
with transportation users before, during and after a journey – and in
turn provide a more tailored and efficient experience.
By combining MasterCard’s leadership in everyday payments and loyalty
management with Cubic’s
“NextCity” platform the partners aim to develop solutions that:
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Provide individual travelers with real-time guidance on their mobile
devices on the smartest way to travel, offering fare incentives if the
system becomes congested or overcrowded.
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Enable transportation operators to offer flexible pricing based on
system demand.
-
Offer retailers at and around transportation hubs ways to alert
travelers to personalized offers and rewards on the go.
As part of the agreement, MasterPass,
MasterCard’s secure digital payment service, will be integrated with
Cubic’s NextWave ticketing and journey planning app.
The partnership will help accelerate the conversion of the currently
$200 billion cash payments into digital payments, saving operators cost
for cash-handling and speeding up through-put. By introducing globally
interoperable payment solutions for urban transportation systems,
traveling between cities will become much easier, with no need to carry
multiple tickets.
Today, MasterCard and Cubic are working together in cities such as
Chicago and London. In London, just four months after the launch of
contactless payments, more than half a million journeys a day on
underground trains and buses are paid by a contactless bank card or
mobile device, growing 10 percent each week.
“MasterCard and Cubic, both lead members in the Smart
Cities Council, share a vision to improve quality of life for
everyday citizens in cities and help authorities to better manage
population growth and urban development,” said Will Judge, head of Urban
Mobility, MasterCard Enterprise Partnerships. “Combining our expertise
and reach allows us to ultimately drive greater value and make
consumers’ lives easier and more enjoyable as they travel around and
between connected
cities.”
Matt Cole, executive vice president, strategy and business development
of Cubic Transportation Systems, said: “Partnering with MasterCard
elevates the offerings within our NextWave mobile solution to a new
level, and strengthens our NextCity story to demonstrate to urban
centers everywhere how serious we are about addressing their
transportation challenges.”
Find a complete list of MasterCard’s news announcements from Mobile
World Congress in our Digital
Press Kit and follow us @MasterCardNews #WhatsNext to join
the conversation.
About MasterCard
MasterCard
(NYSE:MA), www.mastercard.com,
is a technology company in the global payments industry. We
operate the world’s fastest payments processing network, connecting
consumers, financial institutions, merchants, governments and businesses
in more than 210 countries and territories. MasterCard’s products and
solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more
secure and more efficient for everyone. Follow us on Twitter @MasterCardNews,
join the discussion on the Beyond
the Transaction Blog and subscribe
for the latest news on the Engagement
Bureau.
About MasterCard Enterprise Partnerships
The MasterCard Enterprise Partnerships team has been formed to bring
MasterCard’s existing assets, technology, network, reach, products and
solutions to bear in areas that are outside MasterCard’s traditional
domain. We are partnering with global market leaders who have
significant depth of experience in their industries, combining their
knowledge and infrastructure with our assets in order to drive real
enterprise value.
About Cubic Transportation Systems
Cubic® Transportation Systems, Inc., is part of Cubic Corporation (NYSE:
CUB). Cubic Corporation is the parent company of two major business
segments. Cubic Global Defense is a leading provider of realistic combat
training systems, secure communications, operations, maintenance,
technical and other support services for the U.S. and allied nations.
Cubic® Transportation Systems, Inc., is a leading integrator of payment
and information technology and services for intelligent travel
solutions. Cubic delivers integrated systems for transportation and
traffic management, delivering tools for travelers to choose the
smartest and easiest way to travel and pay for their journeys, and
enabling transportation authorities and agencies to manage demand across
the entire transportation network – all in real-time. Cubic specializes
in design, development, manufacture, supply, installation, integration,
services and information. Services provided by Cubic include on-site
management, central systems, operations support, patron support,
business support and field services.
Every year, more than 24 billion transportation payment transactions are
processed using Cubic payment and information systems worldwide. Cubic
has delivered over 20 regional back office operations which together
integrate over 450 transport operators and serve over 38 million people
every day in major markets around the world. Active projects include
London; Brisbane (Southeast Queensland) region, Australia; New York/New
Jersey region; Washington, D.C. /Baltimore/Virginia region; Los Angeles
region; San Diego region; San Francisco region; Minneapolis/St. Paul;
Chicago; Atlanta region; Miami (South Florida) region; Vancouver and
Edmonton, Canada; Sydney (New South Wales), Australia; Germany; and
Scandinavia.
For more information about Cubic, see the company’s website at http://www.cubic.com.
Source: MasterCard Incorporated