EbixCash wins a prestigious long-term contract with the South
NOIDA, India and Johns Creek, Georgia, Aug. 25, 2022 (GLOBE NEWSWIRE) — EbixCash Private Limited, a subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international provider of on-demand software and commerce services to insurance, finance, healthcare and e-learning sectors, today announced that it has been awarded the prestigious order to design, develop, build, install, maintain, operate and transfer the intelligent transport (ITMS) for all state buses operated by the South Bengal State Transport Corporation (SBSTC).
EbixCash will implement the end-to-end on-demand bus automation system on a minimum of 650 buses in the state. The initial duration of the contract will be 7 years.
EbixCash’s Intelligent Transport Management System (ITMS) is used to automate all aspects of ticketing and collection, including electronic ticket machines and software. It offers a huge advantage to a bus company, in terms of plugging any revenue leakage, faster services to end users, full control of bus economy per route in real time, traceability and traceability. transactions, streamlined MIS and real-time data auditing; in addition to striving to optimize the use of labor in all buses operated by the two companies.
End commuters can avoid queues and wasted time while still being able to make smart card payments for their tickets on and off the bus.
Robin Raina, Chairman of the Board of EbixCash, said, “In January 2022, we announced two 7-year contracts with Calcutta State Transport Corporation (CSTC) and West Bengal Transport Corporation (WBSTC) for a minimum of 1,500 buses in the state. . This new 7-year contract with the South Bengal State Transport Corporation (SBSTC) further strengthens our presence in the eastern part of the country. This order is another step in EbixCash’s direction to converge financial solutions with technology solutions and implement them in niche industries.
On March 22, 2022, EbixCash announced that it had been awarded a 5-year contract to design, develop, build, install, maintain, operate and transfer the Intelligent Transportation Management System (ITMS) for a minimum of 14,950 buses in the state of Andhra. Pradesh, operated by Andhra Pradesh State Road Transport Corporation (APSRTC).
EbixCash’s bus redemption division is India’s dominating leader in enterprise bus e-commerce, handling $1.7 billion in annual transactions, across 30% of the bus ticketing system network India with more than 14 major state-owned public transport companies as customers.
EbixCash is a leader in domestic and international money transfers, foreign exchange (Forex), travel, prepaid and gift cards, utility payments and software solutions for loans, wealth management, currency exchanges. buses and insurance in India and other markets. EbixCash’s “Phygital” strategy combines over 320,000 physical distribution points in India and ASEAN countries with an omnichannel online digital platform. EbixCash’s Forex operations hold a leading position in India with operations in 20 international airports including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata, realizing over $4.8 billion in gross transaction value annually (pre-COVID-19).EbixCash’s inbound remittance business is the undisputed market leader in India, processing approximately $5 billion in gross annual transfer volume (pre-COVID-19) through its Via and Mercury travel portfolio, EbixCash is also one of Southeast Asia’s leading travel exchanges with over 200,000 agents, 25 branches and over 9,800 corporate clients, processing an estimated gross value of 2, $5 billion per year (pre-COVID -19) For more information, visit the Company’s website at www.ebixcash.com
About Ebix, Inc.
With more than 150 offices on 6 continents, Ebix, Inc. (NASDAQ: EBIX) strives to provide on-demand software and e-commerce services to the insurance, finance, healthcare and online learning. In the insurance industry, Ebix develops and deploys a wide variety of on-demand insurance and reinsurance exchanges, while providing Software-as-a-Service (“SaaS”) enterprise solutions in the CRM domain, front-end & back-end systems, outsourced administration and risk compliance services, worldwide.
The Company’s financial exchange subsidiary EbixCash is a leader in domestic and international money transfers, foreign exchange (Forex), travel, prepaid/gift cards, utility payments, lending software solutions, wealth management, bus exchanges and insurance in India and other countries. international markets. Ebix and its subsidiaries employ thousands of domain-specific technology professionals to provide products, support and advice to thousands of customers on six continents. For more information, visit the Company’s website at www.ebix.com
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