NOIDA, India and JOHNS CREEK, Ga., Feb. 03, 2021 (GLOBE NEWSWIRE) — Ebix, Inc. (NASDAQ: EBIX), a number one worldwide provider of On-Demand software program and E-commerce companies to the insurance coverage, monetary, healthcare and e-learning industries at present introduced that its Indian subsidiary EbixCash has been awarded the celebrated order to design, develop, construct, set up, preserve, function and switch the automated fare assortment system for all of the buses run by the Authorities owned transport company in Pune, specifically Pune Mahanagar Parivahan Mahamandal Restricted (PMPML).
EbixCash will implement the end-to-end on-demand bus automation system throughout a minimal of two,000 buses within the metropolis of Pune. The preliminary time period of the contract can be 7 years, with EbixCash deploying the platform over the following 3 months.
EbixCash’s Clever Transport Administration System (ITMS) serves to automate all features of fare ticketing and assortment, apart from offering large upside to a bus company, when it comes to plugging any income leakage, quicker companies to the tip commuters, full management over bus economics by route in actual time, trackability and audit path of transactions, streamlined MIS and actual time knowledge; apart from endeavoring to optimize manpower utilization throughout all of the buses run by the Company.
The tip commuters can keep away from queues and time wastage whereas having the ability to make funds on Good Playing cards for his or her tickets inside and outdoors the bus.
Robin Raina, Chairman, President & CEO, Ebix Inc. mentioned, “We’re happy to have gained this prestigious order. It was however pure {that a} high-tech metropolis like Pune, that has emerged as one of many key facilities of IT progress in India, implement a high-tech resolution to automate its bus transport ticketing and assortment. EbixCash’s Bus Change initiative is the one resolution that has the observe file of efficiently having carried out the ITMS throughout the biggest of states in India. This order is one other step within the course of EbixCash converging monetary options with expertise options and implementing them in area of interest industries.”
EbixCash’s Bus Change Division is India’s dominant chief within the space of Enterprise Bus E-commerce dealing with $1.7 Billion of annual transactions, throughout 30% of India’s bus ticketing system community with 11+ giant state-owned public transport firms as purchasers.
About EbixCash and Ebix, Inc.
With a “Phygital” technique that mixes 320,000 bodily distribution shops in lots of Southeast Asian Nations (“ASEAN”) international locations, to an Omni-channel on-line digital platform, the Firm’s EbixCash Monetary alternate portfolio encompasses management in areas of home & worldwide cash remittance, international alternate (Foreign exchange), journey, pre-paid & reward playing cards, utility funds, lending, wealth administration and many others. in India and different markets. EbixCash’s Foreign exchange operations have emerged as a pacesetter in India’s airport International Change enterprise with operations in 32 worldwide airports together with Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in gross transaction worth per 12 months. EbixCash’s inward remittance enterprise in India conducts approx. $6.5 billion gross annual remittance enterprise, confirming its undisputed management place in India. EbixCash, by its journey portfolio of Through and Mercury, can also be one among Southeast Asia’s main journey exchanges with over 2,200+ staff, 212,450+ agent community, 25 branches and over 9,800 company purchasers; processing an estimated $2.5 billion in gross merchandise worth per 12 months. EbixCash’s Monetary Expertise options are at present deployed throughout prestigious monetary establishments and Banks in 44 international locations. For extra info, go to the Firm’s web site at www.ebixcash.com.
With 50+ places of work throughout 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to supply On-Demand software program and E-commerce companies to the insurance coverage, monetary, healthcare and e-learning industries. Within the Insurance coverage sector, Ebix’s principal focus is to develop and deploy all kinds of insurance coverage and reinsurance exchanges on an on-demand foundation, whereas additionally, offering Software program-as-a-Service (“SaaS”) enterprise options within the space of CRM, front-end & back-end techniques, outsourced administration and danger compliance companies, world wide. For extra info, go to the Firm’s web site at www.ebix.com.
Contact:
Darren Joseph
IR@ebix.com or +1 678 281 2027
David Collins or Chris Eddy
Catalyst International + 1 212-924-9800 or ebix@catalyst-ir.com
