UK-based mobile ticketing developer Masabi has received $2.8m in funding from US-based Fontinalis Partners, along with UK-based MMC Ventures and existing investor m8 Capital to accelerate the deployment of mobile ticketing systems by US transit agencies.
Masabi’s JustRide is a cloud-based mobile ticketing and fare collection system that includes mobile apps for ticket purchase, use and ticket agent validation.
The system makes it easier for passengers to book tickets using credit or debit cards with mobile phones instead of traditional paper tickets or smartcards.
In late 2012, Masabi and the Massachusetts Bay Transportation Authority (MBTA) launched the US’s first smartphone rail ticketing system in Boston.
Passengers on four MBTA commuter rail lines to the north and west of Boston are able to buy their commuter rail tickets and passes using the MBTA mTicket app for iPhone and Android devices instead of paper tickets.
Purchased tickets are displayed on smartphones as a digital flash pass or encrypted barcode, which can be used by passengers as a proof of purchase.
According to Masabi, the technology allows transit agencies to launch mobile ticketing for a low-cost investment compared to the usual fare collection systems.
The company processes over $50m a year in ticket sales across its systems around the world.
Since its launch on Boston’s MBTA, the JustRide system has processed $3m in transactions, accounting for over 10% of ticket sales.