In order to create integrated ticketing and payment systems for bus transportation, the state-run PSU AMTRON and the digital financial services company PayCraft announced their partnership on Thursday.
PayCraft and Assam Electronics Development Corporation Ltd (AMTRON) will implement the projects on ‘Open Loop Payment Technologies.’
PayCraft CEO Ambarish Parekh commented on the development, saying, “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.”
Paycraft, according to AMTRON Managing Director S Sundar, will assist in automating and digitising the bus ticketing process 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 said.
According to Sundar, this will save operational costs, eliminate human error, boost automation and efficiency, lessen reliance on cash, and provide a dependable and open system.
