Rambus To Develop Smart Ticketing Solution For TravelMaster

Rambus Inc. (NASDAQ:RMBS) was recently chosen by multi-operator and integrated ticketing services provider — TravelMaster — to develop a smart ticketing solution. The solution will enable TravelMaster’s customers to purchase online multi-operator tickets on its website. The tickets will be valid on any bus, tram or train throughout South Yorkshire.

Per the five-year contract, the company will provide HOPS (Host Operator or Processing System) back office with web retail and smart ticket collector app. Customers will be able to load the purchased e-tickets onto smart cards through on-vehicle ticketing machines and NFC (near field communication) compatible smart phones.

Russell McCullagh, vice president and general manager of Rambus Ticketing, stated, “For operators looking to provide a modern, frictionless transport experience that customers can rely on, smart mobile ticketing is the answer.”

Expanding Portfolio to Attract Customers

Rambus is benefiting from growing traction in tokenization solutions. Apart from mobile payments and retail, the company has expanded its tokenization offerings into markets like account-based payments, e-commerce and blockchain.

The expanding portfolio is helping Rambus to win new customers. In the last reported quarter, the company received orders from Scotland’s national railway network (mobile ticketing) and Coles in Australia as well as Visa (NYSE:V) and American Express (NYSE:AXP) (Payments).

Rambus also launched Vaultify Trade that provides bank-grade tokenization for blockchain.

These bode well for the company’s Ticketing and Payments segment that is reported under the Security division. The segment is expected to contribute revenues between $35 and $40 million in 2019.

Per a recent report by MarketsandMarkets, the overall smart ticketing market is expected to reach $20.4 billion by 2023, at a CAGR of 14.99% during the period 2018-2023. This is an encouraging projection for Rambus.

Zacks Rank & A Stock to Consider

Rambus currently has a Zacks Rank #3 (Hold).

A better-ranked stock in the broader Computer and Technology sector is CACI International, Inc (NYSE:CACI) . You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth for CACI is projected at 10%.

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