Snapper Full Year Update

Snapper Full Year Update.
Wellington, 14 April 2010.

Key Operating Metrics

• Issued Snapper cards increased from 59,000 to 120,000 in the year March 31 2009.

• Snapper has processed 15 million transactions in the 12 months since March 31 2009. Comparatively, Snapper processed 5 million transactions in the prior year.

• Snapper Retailers increased from 105 retailers at March 31 2009 to 200 retailers at March 31 2010.

• Total staff numbers increased to 23 at March 31, with a further 4 roles under offer.

Product Highlights

• Snapper introduces Hotlisting, allowing lost and stolen cards to be blocked, and the balance and any passes transferred to a replacement Snapper.

• Snapper releases transfer functionality on Valley Flyer and Runcimans services, providing customers with automatic transfer discounts when they tag on and tag off.

• Snapper introduces child cards and the ability to age-enable an existing Snapper card, providing automatic access to child fares.

• Snapper introduces the Snapper USB with support for Windows XP and Mac OS X.

• Snapper releases pass products for Runcimans customers, including term passes for students and monthly passes for commuters.

• Snapper introduces self-service kiosk for top ups and balance checks.

• Snapper releases version 1 of its Software Development Kit (SDK) allowing third parties to develop applications and services that interface to the Snapper system.

• Snapper releases location data of existing retailers for integration by third party developers.

• Snapper releases integrated photo ID and building access card with full Snapper capability.

• Snapper announces improvements to on-bus systems, further speeding up boarding times and making it easier to check card balance. Improvements launched in April 2010 and quickly welcomed by bus passengers.
• Snapper’s system accuracy operates consistently above 99.99%.

Company News

• Snapper introduced on Valley Flyer services, including the Airport Flyer, with over 10,000 cards swapped over in one weekend.

• Snapper introduced on Runcimans services in Upper Hutt.

• Snapper signs up key retailers including Subway, Four Square, New World Metro and Reading Cinemas.

• 16 schools offer their students integrated School IDs with Snapper cards.

• Pilot announced with East West Ferries. Snapper can be used for ticket purchase at Ferry office, with on-ferry use available soon.

• Snapper enters into agreement with Taxicharge to provide Snapper for payment in 1,000 Wellington taxis. Available from May 2010.

• Snapper, with partners Eyede and Taxicharge, wins tender to provide integrated Total Mobility services for Greater Wellington Regional Council. Due for launch in mid 2010. 4,500 cards, with NZ-first Braille identification, now on issue in advance of the system going live.

• Snapper engages with NZ Public Transport and Ticketing Industry to define the architecture and standards for the proposed National Integrated Ticketing Programme.

• Snapper announces agreement with NZBus to deploy Snapper on its Auckland based services. Planned availability is second half of 2010.

• Snapper enters 2010 Gold Awards and is subsequently announced as a finalist in the Cyber Gold category.

Summary

Snapper grew strongly in the 2009/2010 year. Cardholders increased by 100%, transactions increased by 300%, and retailers by over 90%.
Snapper is now widely accepted by customers, retailers and public transport operators in the Wellington region for payments and ticketing. This is supported by a wide range of products in terms of devices, and more public transport operators choosing to join the Snapper scheme. We have an exciting pipeline of new products under development that we are looking forward to offering to customers in the coming year.

Snapper is entering its next stage of growth. The deployment into Auckland is of critical importance in the 2010/2011 year. Snapper has a strong team, supported by exceptional capability from its partners, that can execute this challenge on time and on budget, delivering a proven service well before Rugby World Cup 2011. The creation of a National Standard for Integrated Ticketing will see Snapper co-existing with other providers in this sector, assuming genuinely open standards are adopted. Snapper continues to advocate for customer-led, open standards in these fora.

Snapper customer satisfaction levels continue to grow as Snapper responds to customer requirements and expands customer channels, including social media. Our customers continue to tell us that they are happy to recommend Snapper to friends and family.

This market is changing rapidly. Globally, the larger closed schemes, such as Oyster in London, are now opening up to accept other forms of payment such as contactless credit cards. Snapper is well placed to take advantage of this trend as customers seek more convenience and integration with other smart devices.

Snapper is very pleased with its progress to date. Feedback from customers and our business performance support the strategic direction we have taken to develop an open payments and ticketing system. We thank our customers and partners for their support and look forward to continuing to serve them in the year ahead.

About Snapper.

Snapper has created a brand new payment category in New Zealand, based on small value payments using contactless smartcards. Over 120,000 Snappers have been issued, generating over 20 million transactions, across over 400 buses and hundreds of retailers in New Zealand. Snapper offers customers integrated ticketing and instant small value payments. The Snapper system is over 99.99% accurate, providing valuable journey data that can be used to plan better transport services for passengers.

Snapper Services Limited was formed in 2006 and is a wholly owned subsidiary of Infratil Limited.

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