In its efforts to promote digital economy, Mumbai-based payments company AGS Transact Technologies will be managing end-to-end management of Automatic Fare Collection (AFC) system for Kochi Metro.
With this facility of the integrated structure of collection, compilation and computing for AFC system, the company aims to enable an efficient and hassle-free experience to the commuter.
“AFC system of AGS is a critical core component of the Kochi Metro system. It includes both hardware and software installed at entry points of metro stations. This ticketing system uses a combination of Open Loop Smart Cards, Radio Frequency Identification Devices (RFID) and Quick Response Codes (QR Codes) to collect fares from the users minimising the need for cash transactions. This is the first time such an innovative model is being implemented in the country,” said the company.
“We believe that technology solutions such as the futuristic Automatic Fare Collection (AFC) System with Open Loop Smart Cards and QR Code tickets will establish a new benchmark for the transit industry and pave the way for smart travel in India”, said Ravi B Goyal, Managing Director, AGS Transact Technologies.
“By offering an integrated structure of collection, compilation and computing for AFC system, we aim to ensure that the commuter has an efficient and hassle-free experience,” he said.
Prior to this, Kochi Metro Rail Limited (KMRL) has inked a Public-Private Partnership (PPP) pact with Axis Bank for the Automated Fare Collection (AFC) system which in turn has partnered with AGS Transact for the integration and maintenance of the system.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
 system for Kochi Metro.){kind=link}