VeriFone (PAY) announced Tuesday that it has signed an $8.5 million pact with New York's Metropolitan Transportation Authority.
The point of sale terminal maker will provide technology that will give the agency the ability to track more than 1,000 buses in the Bronx and relay that information to riders' desktops and mobile devices over a Bus Time system. This is meant to help customers find out if their buses are running on time and to schedule transportation in the midst of a natural disaster.
This contract, the terminal maker says, was signed in September with installations on the borough buses being completed the following month. TransitPAY previously was installed on a Staten Island fleet of buses last year.
"Our continued success in providing transit solutions to the MTA is a further validation of VeriFone's strategy to extend our technology to new market opportunities," says Jennifer Miles, VeriFone's North American executive vice president. "We have integrated control units, wireless modems and GPS tracking for improved fleet management with integrated solutions that are ready for automated payments capabilities such as NFC and EMV."