An agreement will implement smartcard payment systems for bus and train travel in Europe
Embedded technology company Eurotech recently announced a partnership with automated fare collection system provider Cubic Transportation for a smartcard ticketing system in Europe.
The $10 million agreement will allow Cubic Transportation’s cashless fare payment system to be integrated into Eurotech’s embedded technology. The companies have yet to release details on the agreement, announcing the contract will produce more than 20,000 payment units at bus and train stations throughout a network in "a major European capital." The technology will integrate payment solutions into a smartcard reader that will exchange passenger and journey information through the payment collection system.
Eurotech officials see the need for a transportation payment method as an opportunity to offer technological solutions to a new market. Roberto Siagri, the company’s president and CEO, said "transportation is proving to be a rewarding market for Eurotech."
"The order book is growing and I’m very pleased about how things are moving forward," he added. "This is the second multi-million contract win this year, and I’m confident there’s more to come."
Smartcard technology has become a common solution to transportation payment issues in Europe. Last week, transit authorities in Birmingham, England solved a pricing issue by implementing a new smartcard program for its bus and train operations.
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