INIT INNOVATION IN TRAFFIC SYSTEMS SE
DGAP-News: init innovation in traffic systems SE / Key word(s): Miscellaneous As previously announced in the adhoc release on 14 December 2018, the Metropolitan Transit System (MTS) has now signed the contract with INIT Innovations in Transportation, Inc - a wholly owned US subsidiary of init SE - for the delivery of an account-based, open architecture electronic fare system in San Diego. The total contract value is more than USD 30 million including the option operation and maintenance. "Fare collection is at the core of our business and purchasing options are more diverse than ever. It's incumbent that we keep pace with the technology our customers demand," said Paul Jablonski, MTS chief executive officer. "INIT has a track record of success partnering with transit agencies to develop customized next generation fare collection solutions. We look forward to rolling this out in 2021." INIT will also provide more than 100 cash and about 70 cashless Ticket Vending Machines (TVM) to facilitate the convenient purchase of tickets and fare media. Ticket office terminals and mobile sales units will be included in the project to allow MTS to sell fares during large events. Additionally, INIT will deliver about 900 fare validators for use on MTS buses and at rail station platforms. The validators will accept closed-loop payments such as an MTS-branded smartcard and be capable of accepting open payments such as bank-issued debit/credit cards and mobile wallets using Google Pay, Apple Pay or Samsung Pay. The core intelligence of MTS' next generation fare system will be INIT's back-office processing and revenue management solution, MOBILEvario. MOBILEvario utilizes an open architecture design to integrate with various third-party vendors for a fully unified system. Due to MOBILEvario's multi-client capability, MTS will have the ability for a region-wide, interoperable fare structure. MTS chose INIT because of their goal to implement proven technologies and secure a provider that can ensure a smooth transition to the new system. About MTS MTS operates 95 bus routes and three Trolley lines on 53 miles of double-tracked railway. Every weekday 300,000 passenger trips are taken on MTS bus and Trolley services in 10 cities and the county. In FY 2018, MTS served 86 million riders. Contact: Person making the notification: Simone Fritz Investor Relations ir@initse.com
16.01.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | init innovation in traffic systems SE |
| Käppelestraße 4-10 | |
| 76131 Karlsruhe | |
| Germany | |
| Phone: | +49 (0)721 6100 0 |
| Fax: | +49 (0)721 6100 399 |
| E-mail: | ir@initse.com |
| Internet: | www.initse.com |
| ISIN: | DE0005759807 |
| WKN: | 575980 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |
766525 16.01.2019
