Provides a mobile-based fare collection platform for public transit agencies, enabling riders to purchase, manage, and validate transit passes via a single app. The system integrates with existing fareboxes, gates, and trip planning tools, streamlining fare distribution and data management while reducing cash handling and improving operational efficiency for agencies of all sizes.
Funding
$4.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TVFounders
Product
Problem
Many public transit agencies face challenges in fare collection, including the costs associated with physical infrastructure, cash handling, and outdated systems that can be inconvenient for riders. Traditional fare collection methods often lack the flexibility to adapt to changing rider needs and can create barriers to accessing public transportation.
Solution
Token Transit offers a mobile-based fare collection platform that allows riders to purchase, manage, and validate transit passes directly from their smartphones. The platform integrates with existing agency infrastructure, such as fareboxes, gates, and trip planning applications, to streamline fare distribution and data management. By digitizing the fare collection process, Token Transit reduces the need for cash handling, lowers operational costs, and enhances the overall rider experience. The system provides transit agencies with a scalable and flexible solution that can adapt to their specific needs, regardless of size or existing hardware.
Target Audience
Token Transit primarily targets public transit agencies of all sizes seeking to modernize their fare collection systems, reduce operational costs, and improve rider convenience, as well as riders who prefer the ease of mobile ticketing.
Features
- Mobile ticketing app available on iOS and Android platforms
- Integration with existing fareboxes, gates, and CAD/AVL systems
- Support for various fare types, including single rides, day passes, and monthly passes
- Real-time data on sales, activation, and fare validation for administrative and planning purposes
- Option to send transit passes to other users via the app
- Smart card management and reloading capabilities
- Integration with trip planning apps for seamless journey planning and fare payment