Southeastern Pennsylvania Transportation Authority Launches 3D Fare Gates Pilot Program With Conduent Transportation
Portfolio Pulse from Benzinga Newsdesk
The Southeastern Pennsylvania Transportation Authority (SEPTA) has launched a pilot program using Conduent's 3D Fare Gate Solution to detect and deter fare evasion. This initiative aims to address fare evasion, which costs SEPTA $30 million to $40 million annually. Conduent Transportation, a business unit of Conduent Incorporated (NASDAQ:CNDT), is providing the technology.
May 16, 2024 | 12:49 pm
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Conduent Incorporated (NASDAQ:CNDT) is partnering with SEPTA to pilot its 3D Fare Gate Solution, aimed at reducing fare evasion. This partnership could lead to future expansions and increased revenue for Conduent.
The partnership with SEPTA to pilot the 3D Fare Gate Solution positions Conduent as a key player in smart mobility solutions. Successful implementation could lead to expanded contracts and increased revenue, positively impacting CNDT's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100