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Secure Transactions News

Sydney to relaunchTcard

Thursday 22 April 2010

Pearl Consortium, which includes Commonwealth Bank and Cubic Transportation Systems Australia, just scored aAUD 1.2 billion (EUR 820 million) contract with the NSW Government to amend the maligned Tcard system.

Cubic has less than three years to get the electronic ticket launched across Sydney, Newcastle, the Hunter, Wollongong, Illawarra and the Blue Mountains.

The new system, set to launch in 2012, will allow commuters to tap on and tap off from different modes of transport, including trains, government and private buses, and government ferries.

In 2009, Cubic has signed an agreement to acquire the Concord, Calif., operations center and licenses on select software from the US subsidiary of Australia-based Vix ERG (cf. Smart Insights Weekly #09-29).At the end of 2008, ERG agreed to a restructure that will strip the smart-card operator of its assets in forming Vix ERG and leave the NSW Government with a corporate shell as the target of a legal claim of AUD 89 million (EUR 44 million) over the failed TCard project (cf.SIW #08-48).