Prepayment wins UK project with ERG technology

A subsidiary of Australian smartcard company ERG has won exclusive supplier status for a new transit fare collection project in the United Kingdom.

Prepayment Cards Limited (PCL) won preferred proponent status for a fare collection project, 'Yorcard', in Yorkshire, according to Western Australia based ERG.

Commencing in 2005, the project is expected to create $60 million in revenue from the supply of a card reading structure and a seven year operating contract.

ERG has 47 per cent ownership of PCL, which will rise to 55 per cent before the contracts for the Yorcard project in Yorkshire are finalised.

When fully implemented, the Yorcard scheme will issue more than $1 million cards . It will be one of the largest multi-modal, multi-operator smart card schemes in the UK.

PCL has a preferred supplier status licence in the UK for ERG's software. ERG claims its product is the world's first truly multi-application processing software.

The project is an important win for ERG Group in the UK, where it is aiming to grow its portfolio of long term operating contracts. ERG said the Yorcard project win would build its total UK card base to more than 2 million.

The deals are expected to close by the end of the year, by which time a UK government decision on funding for the project should be announced.

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