on Cubic Corporation (NASDAQ:CUB )
Cubic to Modernize Twin Cities' Transit System with Contactless Technologies
San Diego-based Cubic Corporation has secured a contract from Metro Transit of Minneapolis-St. Paul to enhance the region's Go-To Contactless Fare System. The agreement ushers in a new era of convenience for the Twin Cities, aligning its metro system with those in New York, Chicago, and the San Francisco Bay Area through innovative cloud and wireless technologies.
Cubic's two-decade partnership with Metro Transit will see the introduction of state-of-the-art upgrades, allowing riders to use contactless bank cards, Apple Pay, and Google Pay for seamless fare payments. The move promises to improve operational efficiency and offer new conveniences to the system's 40 million annual users, eliminating the need for separate smart cards or tickets.
For those preferring the Go-To card, enhanced account management options will be available, facilitating easier loading of fare products through various channels. The upgrades aim at promoting equity and convenience for all user demographics, including provisions for future integrations with emerging transit modalities.
The overhaul includes transitioning Metro Transit's fare management software to Cubic's latest enterprise system on the Microsoft Azure Cloud. This upgrade ensures compliance with security standards and introduces sophisticated fare processing capabilities. Metro Transit stands to benefit from reduced operating costs and enhanced security with Cubic's comprehensive support over a five-year period.
R. P.
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