EbixCash wins long-term contract from APSRTC
EbixCash Limited, a technology enabled provider of digital products and services in the B2C, B2B and financial technology arena, through an integrated business model, today announced that it has been awarded the order to design, develop, build, install, maintain and operate the Intelligent Transport Management System (ITMS) for a minimum of 14,950 buses in the state, run by Andhra Pradesh State Road Transport Corporation (APSRTC). The initial term of the contract will be 5 years from the Go-Live date, with EbixCash deploying the platform over the next few months.
EbixCash has a leadership position in key businesses that it operates in, with a 'phygital' strategy that combines over 6,50,000 physical agent distribution outlets throughout India and Southeast Asian countries as of December 31, 2021; with an Omni-channel online digital platform that offers its products and services encompassing domestic and international money remittance, foreign exchange (Forex), pre-paid gift cards, utility payments, travel services, and technologies across insurance, bus information systems, lending and wealth management in 75+ countries.
EbixCash's Intelligent Transport Management System (ITMS) serves to automate all aspects of fare ticketing and collection including Electronic Ticketing Machines & the software. It provides upside to a bus corporation, in terms of plugging any revenue leakage, faster services to the end commuters, complete control over bus economics by route in real time, trackability and audit trail of transactions, streamlined MIS and real time data; besides endeavoring to optimize manpower usage across all the buses run by the roadways corporations.
The end commuters can avoid queues and time wastage while being able to make payments on Smart Cards for their tickets inside and outside the bus.
Robin Raina, Chairman of the Board, EbixCash, said, "We are excited to have won this project from a progressive large state like Andhra Pradesh. We intend to get the functionality operational over the next few months, while ensuring that the state gets a state-of-the-art high-tech solution to automate its bus transport ticketing and collection services. This implementation is another step in the direction of EbixCash converging financial solutions with technology solutions and implementing them in niche industries."
On 8th January 2022, EbixCash announced that it has been awarded the order to design, develop, build, install, maintain, operate and transfer the Intelligent Transport Management System (ITMS) for all the state buses run by Calcutta State Transport Corporation (CSTC) and West Bengal Transport Corporation (WBSTC).