Alternet expands its business into mass transit and prepaid fare-collection with Chinese technology partner
Alternet Systems has entered into a partnership with Tianjin IC Card Public Network Systems Co LTD. (TCPS). TCPS is a provider of technology for urban mass-transportation in China. The company specializes in prepaid fare-collection systems, fleet management, security and monitoring of buses, asset management and the integration with fuel dispensing technology.
The TCPS technology helps citizens replace the use of cash to pay for urban public transportation, with cards based on contactless technology similar to the one used to open doors in buildings. These cards store prepaid value that can be used to pay the transportation fare in a city bus or taxi.
The same technology can be used by a utility company to enable it’s customers to prepay for utilities by enabling the metering system to read the stored value card.
The new company will be a combined entity, formed by both TCPS and Alternet Systems. Henryk Dabrowski, Chairman and President of Alternet, will hold a permanent position on the board of directors. It will provide a platform for the prepayment of urban mass transportation systems and public utilities.
Alternet will provide business development, management and technology consulting and the regional distribution network to collect the payments. TCPS will provide its technology, operational experience and financing resources. The new company will be based in Miami, Florida.
The markets served will include North America, Latin America and the Caribbean, with immediate opportunities in Mexico, Colombia, Peru, Guatemala, El Salvador, the Dominican Republic and Panama. As of now, the target clients are governments, public utility companies and banks in those regions. ![[end]](/resources/bullet/contactlessnews-4.gif)
