OREANDA-NEWS On 05 October was announced, that Transcreditbank participates in the implementation of traffic management systems based on the GLONASS technology in the capital of the 2014 winter Olympics.

JSC TransCreditBank signed a cooperation agreement with a Russian company "M2M telematics", a Korean corporation "eB Corporation" and Sochi City Administration during the VIII International Investment Forum "Sochi-2009", which took place in Sochi in September 2009. The cooperation is aimed at the joint development and implementation of the investment project "Implementation of an electronic payments collection systems on public transport routes in Sochi".

The electronic payments collection system will provide a higher quality passenger transportation services via a more convenient fare payment scheme. Due to the fact that payments will be made electronically, the relationships between the city administration and transportation companies will become more transparent.

The introduction of the electronic payments system is the second stage of the development of the Automated Monitoring and Transport Scheduling System (AMTS) in Sochi, which is based on modern specialized software and GLONASS/GPS terminals placed on vehicles.

AMTS will provide centralized control and increase the efficiency of the city transport and will guarantee additional security of passenger transportation during the preparation for the 2014 Winter Olympics and the modernization of transport infrastructure in Sochi.