Business process and document management company
) recently introduced TAP-enabled Los Angeles County Metropolitan
Transportation Authority (Metro) tickets in Southern California
that are compatible with the smart fare payment system availed on
other modes of communication facilities. Trains, buses, subway
and light rail passengers can henceforth use this smart
chip-embedded smart payment ticket to access Metro gates.
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There are 118 Xerox-managed ticket vending machines (TVMs) across
Southern California from where passengers can buy TAP tickets.
The new TAP tickets include a smart chip and antenna through
which passengers can access Metro gates and these are much more
effective and competitive than the old payment system.
Xerox's innovative technology would save passengers' time by
providing easy and quick navigation.
This new system has generated a lot of customer attention in
various regions and two dozen transit providers from San
Bernardino to Santa Monica and Lancaster to Long Beach are
expected to be a part of this payment system in 2014.
Headquartered in Norwalk, Conn., Xerox is a leader in the
development, manufacture, marketing, servicing and financing of
document equipment across the world. The company has three
segments Technology, Services and Others. Xerox deploys
approximately 50,000 smart card readers on buses, faregates,
turnstiles, and other fare collection devices.
Xerox is looking forward to expand its offerings through
inorganic measures and new acquisitions to add more clients to
its portfolio. In the last reported quarter, Xerox reported total
revenues of $5.4 billion.
Xerox currently has a Zacks Rank #3 (Hold). Other stocks that
look promising in the industry and are worth a look now include
Marvell Technology Group Ltd
) each carrying a Zacks Rank #2 (Buy).