Salik pushes into parking payments under new five-year deal
Salik is expanding the use of its payment platform beyond Dubai’s toll gates, with parking payments and other future mobility services among the areas supported under a renewed five-year technology partnership with US-based TransCore.
Salik, the exclusive operator of Dubai’s road toll gates, said the renewed agreement will support the efficiency of its existing portfolio while developing the technology needed to extend the platform across parking payments and other current and future mobility services.
The financial impact is expected to remain broadly unchanged from the previous contract,with annual operating expenses expected to remain between 5% and 5.5% of total annual revenues.
Wider role for Salik payments
The five-year agreement continues an 18-year relationship between Salik and TransCore, which dates back to 2006 when the US company contributed to the design and development of Dubai’s original tolling system.
The latest contract covers the continued development of systems and technologies supporting tolling operations, while also providing for upgrades linked to Salik’s future expansion plans and new services.
Salik said the partnership will explore the deployment of artificial intelligence technologies and advanced digital solutions to improve operational efficiency and system performance, alongside supporting future requirements within Dubai’s mobility network.
Over the next five years, we look forward to leveraging artificial intelligence, advanced technologies and digital solutions to further enhance the future readiness and performance of our operations, while strengthening Salik’s portfolio and expanding its application across a broader range of mobility services.
Ibrahim Al Haddad, Chief Executive Officer of Salik
Costs remain at similar levels
Salik said there has been no material change from the previous contract in terms of the expected financial impact, despite additional contractual, operational and regulatory requirements.
The renewed agreement includes stronger requirements covering sustainability, governance, cybersecurity, maintenance, business continuity and system upgrades designed to accommodate existing services and future initiatives.
Those additions are expected to be managed while annual operating expenses remain within the 5% to 5.5% of total revenue range indicated by the company.
Five more years of technology development
TransCore will continue supporting the development of Dubai’s tolling system while Salik builds out its technological capabilities and broader payment services.
Source: gulfnews