Cubic and TransLink Launch Open Payments on Vancouver's Public Transit System

SAN DIEGO, May 22, 2018 /PRNewswire/ -- Cubic Corporation (NYSE:CUB) today announced its business division Cubic Transportation Systems (CTS) and Vancouver's transportation authority, TransLink, introduced the 'Tap to Pay' feature on Vancouver's public transit system, allowing passengers to pay for travel using their contactless credit cards and mobile wallets.

Tap to Pay brings a new level of convenience with a familiar feel to TransLink's 50 million monthly riders. The new system works in the same way as the Vancouver's Compass Card – the contactless smart card payment system that was designed by Cubic and launched in 2015. It allows passengers to tap their contactless Visa or Mastercard credit cards, or a device with an Apple Pay, Google Pay or Samsung Pay wallet on card readers at fare gates and on buses to enter and exit the transit system.

The new Tap to Pay option is especially convenient for occasional riders and tourists, eliminating the need for users to prepay for travel. Riders may choose to simply "pay as you go" without worrying about obtaining a Compass Cards or a regular ticket.

"We're very proud to be the first technology company to bring open payments to a public transit system in Canada," said Matt Cole, president of Cubic Transportation Systems. "While the system is straightforward to use for the rider, it's a major technological achievement offering a similar level of functionality as the world-class contactless system in London, placing Vancouver at the forefront of transit innovation."

"Tap to Pay is about increasing customer convenience by offering more payment options," said Kevin Desmond, CEO, TransLink. "Whether you're a daily commuter, a tourist who just arrived from Vancouver International Airport, or a concert goer who only rides transit on occasion, you can choose the payment method that suits you best. Tap a Compass Card, a credit card or a mobile device and be on your way — no ticket line ups and no need for cash."

The Compass Card remains the most popular form of transit fare payment in Vancouver and is used to pay for 97% of fares. It links all of TransLink's services and fare products in Metro Vancouver to a single payment system, including buses, West Coast Express, SkyTrain and SeaBus. Last year, the Compass Card processed more than one billion "taps" by Metro Vancouver's public transit users.

About Cubic Corporation
Cubic is a market-leading, technology provider of integrated solutions that increase situational understanding for transportation, C4ISR and training customers worldwide to decrease urban congestion and improve the militaries' effectiveness and operational readiness. 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 Mission Solutions provides networked Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) capabilities for defense, intelligence, security and commercial missions. Cubic Global Defense is a leading provider of live, virtual, constructive and game-based training solutions for the U.S. and allied forces. For more information about Cubic, please visit the company's website at www.cubic.com or on Twitter @CubicCorp.

SOURCE Cubic Corporation

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