London’s payment integration system reaches consumer milestone

London’s payment integration systemCubic Transportation Systems (CTS) announced a successful milestone with partner Transport for London (TfL) of reaching one billion pay-as-you-go journeys using contactless bankcard and mobile payments across London’s transport network. Launched in 2012, Cubic and TfL’s successful payment system is currently used for an average of two million journeys each day.
Since 2016, the proportion of people using contactless technology to pay-as-you-go around London has grown by 25% to 40%, signifying a monumental change in how travelers pay for their journeys. Additionally, nine percent of transactions now take place through mobile devices, with more than 31 million verified mobile phone payments in the last year alone.
The payment system has been expanded under the Mayor of London Sadiq Khan’s “Hopper” initiative, which offers commuters free secondary bus or tram journeys within one hour of their first. In 2018, this will be further expanded to allow unlimited bus and trams journeys within an hour – giving Londoners the advantage of more affordable travel for longer journeys around the city.
“Our partnership with TfL has helped put London at center stage among the world’s most technologically advanced travel payment systems. We take pride in both the contactless public transit experience leading to the billionth pay-as-you-go transaction, as well as our collaboration with TfL to take the technology to other leading systems worldwide,” said Matt Cole, president of Cubic Transportation Systems.
“Our contactless technology is now making it easier for people to travel around the city, whether it’s for work, leisure or to visit friends and family. We’re committed to continue developing and expanding the system where we can to make it even more convenient for anyone visiting London,” said Shashi Verma, chief technology officer at TfL.