SAN DIEGO, Calif, Sept. 1, 2015 (GLOBE NEWSWIRE) -- via PRWEB - Cubic Transportation Systems (CTS), a business unit of Cubic Corporation (NYSE: CUB), today announced it was awarded a $12.6 million contract from the San Francisco Bay Area Rapid Transit District (BART) to update its revenue management system. The state-of-good-repair project includes ticket vending machines, add fare machines, fare gates and parking validator devices to extend the equipment life while providing new payment functionality that can be used in the future.
Updating an existing revenue management system is a cost-effective and timely solution to ensure quality performance of systems that are used on a daily basis. In addition, the new readers for BART's equipment will have Europay, MasterCard and Visa (EMV)-compliant open payment capabilities for possible future use of contactless bankcard and mobile payments.
"The time and money it takes to procure a new revenue management system is significant and Cubic was able to demonstrate the millions of dollars in savings to BART riders and taxpayers by updating our current system," said Paul Oversier, assistant general manager, operations for BART. "We will also be well-positioned to transition to next-generation payment technologies in partnership with the region."
"Cubic's equipment and systems, which have been validated throughout the world, help move more than 400,000 BART riders on a daily basis," said Matt Newsome, senior vice president and general manager of Cubic Transportation Systems. "We look forward to continuing our strong relationship with BART and supporting them to maximize the full use of their system while continuing to offer riders a convenient and seamless travel experience."
Cubic has delivered systems and services to BART since the company's first contract in 1974. In 1999, Cubic was awarded a contract by BART to replace the existing revenue management operations and add new equipment for the San Francisco Airport extension. In 2009, Cubic took over the regional Clipper Card contract to integrate and complete the project across the original partner agencies that joined the system. Cubic is continuing to expand the Clipper system under its contract with the Metropolitan Transit Commission, the regional transportation authority.
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 http://www.cubic.com or on Twitter @CubicCorp.
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Laura Chon
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