The partnership will focus on building an Indigenously developed tailor made for India Electronic Ticketing Machine (ETM) for deployment in buses 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.
Around 70 million people travel daily in buses in India and more than 2 million buses operate on Indian roads daily. Loose cash has always been an issue for both the traveller and the bus conductor. Indian customer loses millions every day due to this problem. The cash handling cost for the bus authorities will also be reduced drastically.
Paycraft and AMTRON aim to this problem and come up with an indigenously developed effective turnkey solution under the ‘Make in India’ vision of the government.
In a statement, S Sundar, Managing Director, IFS said, “Our partnership will help in creation of new products and services that will not only allow for digitization of existing solutions at a very large scale but also allow for world class technology implementation. This will reduce the operation cost, human error, increase automation and productivity, reduce dependency on cash and create an accountable and transparent system. This is a very important project, as the Govt of Assam will have a proper visibility and accountability to work.
Ambarish Parekh, CEO, PayCraft, stated, “AMTRON’s capabilities in manufacturing and partnerships with proven execution capabilities are valuable to us. Recently PayCraft has launched its automated fare collection system project for Pune Metro. With the breakthrough across bus ticketing, we will create intelligent hassle-free ticketing solution that will help more than 70 million passengers to travel seamlessly across India.”