Transport for London (TfL) has licensed its contactless ticketing technology that will now be deployed in cities worldwide as the result of a £15 million licensing deal with Cubic Transportation Systems (CTS).
CTS is planning on integrating TfL's technology with other systems in order to make it easier for mass transit operators to allow passengers to pay using various contactless cards and mobile payment systems such as Apple Pay and Samsung Pay.
The CTO of TfL, Shashi Verma, expressed his excitement regarding how TfL will now be able to benefit customers worldwide, saying: “We're delighted to have agreed to this licensing deal with Cubic Transportation Systems to introduce our contactless payment system to other world cities.”
“Contactless payments have completely transformed the way people pay for travel in London and this deal will allow other world cities to benefit from the hard work we put into making the system work for our customers.”
Since 2003, CTS has worked alongside TfL when the two companies first introduced the Oyster card which has allowed buses, tubes and rail services in London to support contactless debit and credit cards since 2012.
More than a billion trips have been made using contactless payment during the course of the four years after the card was originally introduced. London's public transportation system is responsible for one tenth of all of the contactless transactions that occur in the UK.
CTS is currently working with mass transit operators in Sydney, Brisbane, Vancouver, Chicago and other cities to offer contactless payments to their residents. Its licensing deal with TfL is the first of more to come according to the company.
The proceeds earned from the arrangement between the two companies will also aid Mayor Sadiq Khan in fulfilling his promise of freezing public transportation fares in London.
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