Summary:
Guwahati, Aug 18 (PTI) Digital financial services firm PayCraft on Thursday said it has joined hands with the state-run PSU AMTRON to implement integrated ticketing and payment solutions for bus transportation.
In its first phase, the partnership will focus on digitising small ticket payments in the bus transit sector after successfully bidding for various state-run operators in the Indian sub-continent and later in the African continent, the company said in a statement.
PayCraft and Assam Electronics Development Corporation Ltd (AMTRON) will implement the projects on "Open Loop Payment Technologies", it added.
The statement further stated that the two firms will jointly bid for upcoming ticketing projects in India and "Open Loop Ticketing" projects in other countries, where AMTRON has a strategic relationship.
Commenting on the development, PayCraft Chief Executive Officer Ambarish Parekh said, "We are very happy to announce our association with AMTRON.
We see this as an opportunity to work with AMTRON to target newer businesses and dominate this segment." AMTRON Managing Director S Sundar stated that Paycraft will help in digitalising and automating the ticketing process in busses in the states of Northeast India.
"Our partnership will help in creation of ground-breaking new products and services that will not only allow for digitisation of existing solutions at a very large scale but also allow for world class technology implementation," he added.
This will reduce the operation cost, human error, increase automation and productivity, reduce dependency on cash and create an accountable and transparent system, Sundar said.
"This is a very important project as the Government of Assam will have a proper visibility and accountability to work," he added.
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