Cubic receives contactless EMV bank Card type approval for next-generation Tri-Reader® 3
Posted: 19 October 2011 | heron anstead media global limited | No comments yet
Smart fare payment using open payment contactless EMV bank cards…
Cubic Transportation Systems (Cubic), a business unit of Cubic Corporation (NYSE:CUB) has received approval from the top four bank card brands for the Tri-Reader3 to process their branded contactless EMV bank cards for use in public transit revenue management systems. Cubic has equipment and systems supporting seven of the top 10 largest public transit markets in the United States, United Kingdom and Australia as well as other major markets around the world.
The Tri-Reader® 3 is the first contactless smart card device designed for use in public transport to process all industry standard contactless smart cards. The reader also processes bank-issued contactless EMV cards that meet the financial industry’s standards for contactless open payment, and has been approved by EMVCo, American Express, Discover, MasterCard and Visa.
The Tri-Reader® 3 supports multiple card schemes – for example, with Oyster in the UK, ITSO and contactless EMV cards can now be read concurrently on the same contactless reader. The Tri-Reader 3 was developed by Cubic on behalf of Transport for London and the company has a worldwide licence for its use for open payments.
Cubic’s technology can also support payments made with Near Field Communications (NFC)-powered mobile phones, a form of payment that Cubic has tested in US and European transit systems. The Tri-Reader-3 will give Cubic’s customers a transition path to add account-based, open payment contactless EMV bank card and NFC acceptance to the same system.
“Our customers now have an open payment solution, which means that our technology supports any contactless media that conforms to ISO 14443, whether in an account, card or NFC phone based system,” said Pradip Mistry, Vice President, Engineering, for Cubic Transportation Systems. “At the same time, we have also ensured that the same levels of speed and reliability we have built into previous generations of card-based fare collection systems are achieved for open payment.”
To test and prove its account-based processing technology, Cubic and its customer PATCO have partnered to provide Philadelphia/New Jersey region commuters with the world’s first transit-branded all contactless Visa® prepaid card. The new PATCO Wave & Pay ANYWHERE Visa® Prepaid Card began a 12-month pilot program on September 26, marking the first time that consumers will be able to use the same transit payment card for both transit and retail purchases. The Tri-Reader® 3 is also being deployed on London buses and future plans exist to expand the rollout across the whole of Transport for London’s estate.
Cubic Transportation Systems Limited