In its first phase, the partnership will focus on digitising small ticket payments in the bus transit sector in India and Africa on Open Loop Payment Technologies
In its first phase, the partnership will focus on digitising small ticket payments in the bus transit sector in India and Africa on Open Loop Payment Technologies
PayCraft, a payments technology firm, said it has partnered AMTRON, a government of Assam undertaking, to develop and implement an integrated ticketing, payment and ITMS solutions for the Indian and the global markets.
In its first phase, the partnership will focus on digitising small ticket payments in the bus transit sector in India and Africa on Open Loop Payment Technologies, the company said.
“The India focus will be in line with implementation of One Nation One Card and will be built on National Common Mobility Card (NCMC) specifications of NPCI,” the firm said.
“The partnership will focus on building an indigenously developed tailor made for India Electronic Ticketing Machine (ETM) for deployment in buses ecosystem and will address concerns of public transport operators keeping in mind the Indian conditions and dynamics. It will be a first Make-in-India device for the transit sector,” it added.
Approximately 70 million passengers travel daily in buses in India and more than 2 million buses are operating on the roads on a daily basis.
“Loose cash has always been a major issue for both the traveller and the bus conductor. And Indian customers lose millions every day due to this problem. The cash handling cost for the bus operators will also be reduced drastically,” the firm said.
Ambarish Parekh, CEO, PayCraft said,” Along with our expertise in providing solutions for very large-scale implementations in the smart/electronic ticketing segment for digitizing urban mobility solutions, we see this opportunity to work with AMTRON to target newer opportunities and dominate this segment.”
