INIT Invests in US mobile ticketing provider

511 INIT Innovations in Transportation has acquired a 27.5 per cent stake in US-based Bytemark, which provides mobile ticketing technologies for the transit industry.
 
7877 Bytemark has developed a patent-protected technology that powers a secure mobile ticketing platform for transit, which offers a seamlessly integrated mobile commerce experience.
 
The Bytemark Platform is a suite of smartphone apps, point-of-sale plug-ins, and open APIs providing transit agencies the ability to meet the needs of today’s passengers. INIT’s investment will help expand their technology offerings, allowing them to continue to deliver leading edge solutions to the transit industry and passengers.
 
Based on the increasing demand for mobile payment technologies, INIT says it sees this investment as a strategic partnership that will allow it to continue to deliver ticketing solutions to transit companies both now and well into the future.