MobiWallet£ºJton MobiWallet is a complete hardware-software system that allows mobile carriers to offer in-phone contactless touch-and-go instant payments today. The in-phone module can upgrade common phones in-store in 5-minutes for less than $10. Once equipped the phone will be able to instantly pay transit fares and carry e-tickets. The matching Jton transaction server performs secure messaging to equipped phones as well as back-end transaction logging and all the communication with the ticket reservation and payment servers
Consumer mobile services
No direct competitors yet, as this is a new segment,
Potential Competitors: Motorola, VivoTech (mobile wallet software and services)
Randy Vanderhoof of The Smart-Card Alliance, presented that over 100 cities have working RFID transit fare systems with $25 billion in throughput. Frost & Sullivan estimates about 100 million RFID transit cards shipped in 2005 (average 1 million per city), with 55% CAGR to 635 million in 2009.
Jton is privately held. Initial funding of $1 million from private investors. Organizing first venture round of $5 million
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