Benzinga | Feb 3, 2021 08:10AM EST

EbixCash Wins Prestigious Long-term Contract for Automating and Digitizing the City of Pune's Bus Ticketing and Fare Collection System

Ebix, Inc. (NASDAQ:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries today announced that its Indian subsidiary EbixCash has been awarded the prestigious order to design, develop, build, install, maintain, operate and transfer the automatic fare collection system for all the buses run by the Government owned transport corporation in Pune, namely Pune Mahanagar Parivahan Mahamandal Limited (PMPML).

EbixCash will implement the end-to-end on-demand bus automation system across a minimum of 2,000 buses in the city of Pune. The initial term of the contract will be 7 years, with EbixCash deploying the platform over the next 3 months.

EbixCash's Intelligent Transport Management System (ITMS) serves to automate all aspects of fare ticketing and collection, besides providing tremendous 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 Corporation.

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, President & CEO, Ebix Inc. said, "We are pleased to have won this prestigious order. It was but natural that a high-tech city like Pune, that has emerged as one of the key centers of IT growth in India, implement a high-tech solution to automate its bus transport ticketing and collection. EbixCash's Bus Exchange initiative is the only solution that has the track record of successfully having implemented the ITMS across the largest of states in India. This order is another step in the direction of EbixCash converging financial solutions with technology solutions and implementing them in niche industries."

EbixCash's Bus Exchange Division is India's dominant leader in the area of Enterprise Bus E-commerce handling $1.7 Billion of annual transactions, across 30% of India's bus ticketing system network with 11+ large state-owned public transport corporations as clients.