TransLink has a signed a contract with IBM Canada and Cubic Transportation Systems to bring smart card-based fare payment technology to Vancouver’s transit system, according to The Cloverdale Reporter.

Slated for a 2013 launch, the new system will allow passengers on Metro Vancouver public transportation, including the rapid transit SkyTrain, to pay for trips with a single smart card.

According to The Cloverdale Reporter, the project boasts a $171 million budget, of which $84 million will go to Cubic for the operating system, fare gates, smart card vending machines, readers and other equipment. Most of the remaining budget will go toward upgrading SkyTrain stations with new turnstiles.

TransLink expects the new system will improve efficiency, curb fare evasion and provide greater convenience for travelers with the single card payment method.

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