Cubic Corporation | January 12, 2022
Cubic Corporation announced that its Cubic Transportation Systems (CTS) business division was awarded a second contract from the Port Authority of New York and New Jersey to continue providing and updating Port Authority Trans-Hudson’s (PATH’s) next-generation fare payment system. The investment will bring the next generation of contactless fare payment and collection technology, allowing riders to “tap and go” with their mobile devices and credit/debit cards.The PATH system connects New York and New Jersey. As part of the new contract, CTS will provide PATH with Cubic’s fare payment back office to centralize automated fare collection on conventional public transport modes. The back-office technology also offers passengers a single account to manage all their travel needs, transforming PATH into an account-based system similar to those utilized in Chicago, Brisbane, Australia and more.
“PATH is continually searching for innovative ways to enhance the travel experience for all of our riders,With this new system, we’ll be adopting the most current and effective technology to advance that goal and make for a more seamless experience at the turnstile.”
-PATH Director Clarelle DeGraffe.
The first phase of the contract consisted of readiness efforts for the full implementation of the contactless payment system, such as gate upgrade kits and upgrades to the field network and infrastructure. Once complete, PATH’s convenient payment system will function similar to the Metropolitan Transportation Authority (MTA)’s OMNY system in New York and the Oyster system in London.
These more flexible innovative features will ultimately enable PATH to more seamlessly integrate the system with mobility services such as bike share, scooter hire and tolling in the future.
“Our aim is to be a global mobility technology provider that makes cities easier to navigate for locals, business travelers and tourists alike. This award showcases our proven track record to support a full range of needs for large transportation agencies. With the new additions to the fare payment system, PATH can finalize its implementation and continue to create a world-class, customer-friendly system for riders,”
-Jeff Lowinger, president, CTS.
The system will be fully deployed by early 2024 and will replace PATH’s legacy SmartLink payment system. To learn more, visit panynj.gov.
About Cubic Corporation
Cubic is a technology-driven, market-leading provider of integrated solutions that increase situational understanding for transportation, defense C4ISR, and training customers worldwide to decrease urban congestion and improve the militaries’ effectiveness and operational readiness. Our teams innovate to make a positive difference in people’s lives. We simplify their daily journeys. We promote mission success and safety for those who serve their nation. For more information about Cubic, please visit www.cubic.com or on Twitter @CubicCorp.
CLEAR | June 09, 2021
Biometrics are poised to make the leap beyond airports and act as a passport to any number of environments where crowds gather in post-COVID reopening.
To that end, biometric security firm CLEAR filed its S-1 with the Securities and Exchange Commission (SEC), paving the way for an initial public offering (IPO) on the New York Stock Exchange.
CLEAR may arguably be best known for its origin that ties into creating “a frictionless travel experience while enhancing homeland security,” as described in the prospectus. At a high level, the company’s biometric security service offers subscriptions to its services, speeding up passenger flow through TSA lines at the airport.
But branching into other use cases shows how fungible, in a way, biometrics tech can be, where knowing who is who — for admission, for security, or commerce — is an essential deployment. But along the way, as CLEAR’s filing shows, the pivot beyond travel — where demand is only now recovering from the ravages of the pandemic — will help determine whether the firm will see ignition. CLEAR points to the “convenience economy” as a critical driver for using biometrics in a bid to streamline everyday interactions.
Tracking The Enrollments
Digging into the prospectus, since inception, there have been 5.6 million cumulative enrollments, with 61 million cumulative use cases across its platform.
Along with the decline in travel-related activity, first-quarter revenues slipped 17 percent as U.S. domestic flyers dropped by 60 percent. But the company remarked in its prospectus that a trend in its favor would be the reopening of and return to secular growth in the travel industry.
As travel declined, cumulative enrollments on the platform were up more than 12 percent, to 5.2 million. Looking across the entire year, revenue was up 20 percent to 230.8 million in 2020, while net loss narrowed to $9.3 million from $54.2 million.
Moreover, the company has debuted its Health Pass app, which stores healthcare-related data such as COVID test and vaccine records, which can help members show credentials required to enter a sporting event. CLEAR has partnered with 26 sports and entertainment partners and 67 Health Pass-enabled partners. That reach helps give coverage to 110 locations, including offices, theaters, and theme parks.
Launched in 2010, CLEAR’s biometric security service is popular among frequent fliers who purchase subscriptions for $179 a year. Along with gaining the ability to speed through airport lines, subscribers can also use the service at sports stadiums and entertainment venues.
Looking Toward Scale
CLEAR defines the total addressable markets, by vertical, as being rather significant. In aviation and travel, 90 million American adults fly at least twice annually, while 31 million flies at least six times annually. In hospitality, there were 1.3 billion room nights occupied in 2019, pre-pandemic, in the U.S. Per data from ESPN, across major sports leagues, there were 130 million sports attendees in 2019.
The movement into adjacent use cases depends on how many consumers embrace $179 annual subscriptions (the price of Clear PLUS) and whether the populations that do so will justify partners signing on with the technology platform.
VacationRenter | September 23, 2020
VacationRenter, a company that aggregates the best rentals from top sites to help travelers find the perfect place to stay, and RVshare, the first and largest peer-to-peer RV rental marketplace, today announced a partnership to make finding the perfect RV for your next road trip easier than ever.
With more than 100,000 vehicles available, RVshare's diverse inventory ranges from affordable travel trailers to luxury motorhomes that can accommodate any outdoor adventure. With thousands of satisfied customers and a broad inventory that includes pet-friendly rentals, RVshare has the perfect RV for any vacation, road trip or temporary lodging needs.