Masabi, a London, UK-based developer of mobile ticketing technology for the transport sector, has secured $2m from m8 Capital.The investment will be used to support commercial deployments of Masabi’s mobile ticketing systems with UK rail companies and to expand operations into other geographies.
Masabi’s technology allows secure, usable ticket purchase and display on common mobile phone handsets, as well as smartphones. The company is already working with customers including Atos Origin and thetrainline.com, with the first consumer launches due in the coming months.
The application allows commuters to use their phone to search, select and securely purchase tickets using a credit or debit card. Tickets can either be displayed on the phone’s screen via secure barcode technology, or traditional printed tickets can be picked up from the train station.
Rail operators have already commenced the rollout of barcode scanners on trains and at stations, with several major routes expected to be fully covered by the end of the year.
FinSMEs
28/09/2010