Show your support by donating any amount. (Note: We are still technically a for-profit company, so your
contribution is not tax-deductible.)
PayPal Acct: 
Feedback: 
Donate to VoyForums (PayPal):
| [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, 4, 5, 6, [7], 8, 9, 10 ] |
| Subject: Cubic/Transys, a four-company consortium London 1998 Oyster 2002 | |
|
Author: anonymous |
[
Next Thread |
Previous Thread |
Next Message |
Previous Message
]
Date Posted: 18:14:59 11/22/02 Fri http://www.wired.com/news/technology/0,1282,12252,00.html ------------------------------------------------------------ London's Tube Getting Smart By Reuters Page 1 of 1 ------------------------------------------------------------ 07:48 AM May. 12, 1998 PT ------------------------------------------------------------ LONDON -- This city's underground rail network may be shabby, overcrowded, and desperate for cash, but this month the government will hand over a billion pound (US$1.6 billion) contract to provide state-of-the-art ticketing that it hopes will reduce fraud, saving up to £#163;40 million a year. ----------------------------------------------------------- Transys, a four-company consortium that received the contract, said the new smart-card technology would clamp down on fraudsters and eventually save state-owned London Underground (LU) £#163;30 million to £#163;40 million in lost revenue each year. ------------------------------------------------------------ Transys is ready to sign a 17-year contract with LU to install, maintain, and operate technology to allow passengers to use credit card-like tickets across London's bus, tube, and rail network. ------------------------------------------------------------ The smart-card will work like supermarket pricing bar codes, containing ticket information which will replace disposable paper travel cards within years. The first stage of the contract is to install new ticket barriers with built-in scanners at 274 tube stations, 33 major mainline rail stations, and on the capital's 6,000 buses. Introduction of the cards will follow. ------------------------------------------------------------ Ultimately, the cards could have additional micro-chips to allow passengers to use one card for everything: travel, credit-card payments, shopping, and telephone calls. "In future, we see Londoners leaving the house with nothing but their smart card," said Victoria Penda, marketing chief for the Transys group. "This will be possible in four years' time." ------------------------------------------------------------ Transys, which beat 120 bidders to win the contract, will pay the £#163;180 million installation costs up front and not receive any payment from the government until the system is in place. Delays mean heavy penalties. "If the system does not work, then the opportunity to earn money goes down substantially," Penda said. "We don't get paid if it's not up and running within a specified time." ------------------------------------------------------------ In addition to the benefits to users and the reduction in fraud that the system is expected to bring, it will also provide information to LU on which lines generate the most revenue and on the traveling habits of Londoners. ------------------------------------------------------------ [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re: CubicTransaction Systems LimitedACI London Proton World ACI | anonymous | 18:21:18 11/22/02 Fri |
|
||