Global ticketing technology company Parkeon Transit has been awarded a major contract by Cubic Transportation Systems Ltd (Cubic) to provide on-going support for the fare collection equipment and systems linked to the London bus network.

The contract – part of Transport for London (TfL)’s £660M Electra programme – includes the long term asset refreshment of existing on-and-off vehicle equipment to ensure thatfuture systems meet the needs of customers using London’s fleet of over 8,500 buses. As part of this process, the latest generation of Parkeon’s ticketing technology will be introduced across the network and in more than 80 depots.

Commented Owen Griffith, Managing Director of Parkeon Transit: “This contract award continues Parkeon’s long standing, close working relationship with London, which started with TfL in the mid-1980s, and continued with Cubic Transportation Systems in a partnership that has successfully supplied ticketing across the capital since 1998. Now, we are looking forward to playing our part in introducing the innovative technologies that will enhance the customer experience and contribute to a more efficient transport network in London.

The Electra contract covers the maintenance and availability of ticketing and fare collection equipment on buses, ticket gates at London Underground and London Overground stations, stand-alone validators including on the DLR , ticket machines and at the 250 National Rail stations where card readers are located. There are also around 4,000 retail devices at Oyster Ticket Stops across the capital.

Matthew Hudson, TfL’s Customer Experience Head of Business Development, said: “I am confident that the ticketing technology partnership between Cubic and Parkeon willcontinue to deliver the high levels of service our customers expect.

John Hill, interim managing director of Cubic Transportation Systems Limited, commented: “We are delighted to be working with Transport for London in its next phase of ticketing and fare collection delivery and look forward to continuing our partnership with Parkeon.”

TfL successfully launched contactless payment card acceptance on the Tube and rail network in September. Contactless payments have been accepted on London’s buses since December 2012, with around 18 million journeys having been made over this period of time.