Tracsis (AIM:TRCS) shares rose 5% after the company secured a major multi-year contract to provide the core technology behind pay-as-you-go (PAYG) rail travel across the UK.
The transport technology firm will deliver the Tap Converter system for Rail Settlement Plan, part of the Rail Delivery Group, which will handle all fare calculations and transaction processing for urban PAYG travel on National Rail.
Tracsis already supplies smart ticketing technology to six train operating companies, and this contract provides long-term revenue growth as more operators adopt the system.
Development begins immediately, with the system set to go live in 2026, bringing guaranteed annual fees and additional revenue for the AIM-listed firm based on transaction volumes. The project is fully funded, supporting the UK government’s drive for simpler, more innovative rail ticketing with the creation of Great British Rail.
In early trading, the stock was up 18.8p at 378.8p.