Datamatics clinches FINTECH India Innovation Awards 2024 for its Automatic Fare Collection Solution for Urban Mobility

Datamatics, a global Digital Technologies, Operations, and Experiences Company, today announced that it has received FINTECH India Innovation Awards (FIIA) 2024 in the Best Customer Experience Services category for its Automatic Fare Collection (AFC) solution. FINTECH India Innovation Awards celebrates and honors innovations and emerging technologies that disrupt and elevate the financial landscape.

Datamatics' Automatic Fare Collection solution represents a significant shift in urban transportation payment systems. It leverages cutting-edge technologies and fare media, such as EMV open loop, QR Code, NFC, account-based ticketing, contactless card-based, and mobile app-based ticketing solution, enhancing efficiency, accuracy, convenience, and overall customer experience both for the passengers and for the public transit operators (PTO). Over the years, Datamatics has successfully delivered over 30 AFC projects globally, including high-traffic cities like London, New York, Melbourne, Hong Kong, and Dubai. Datamatics also recently implemented its AFC solution for the city of Memphis in Tennessee, USA. In India, Datamatics has successfully executed AFC solution on a turnkey basis for the Mumbai Metro, Lucknow Metro, Kolkata Metro, Delhi-Meerut RRTS corridor by NCRTC, and for the cable car system in Shri Mata Vaishnav Devi shrine in Jammu.

Some of the key features of Datamatics AFC solution that are helping to deliver superior passenger experience:

- Offers seamless usage of self-service AFC devices, such as Ticket Vending Machines (TVM) and Add Value Machines (AVM), in the AFC infrastructure space, thus enabling transit operators to efficiently handle ticket issuance and validation with limited human interference at the same time increased availability and accuracy.

- Use the latest AFC technologies, such as QR code, Near Field Communication (NFC), Europay, MasterCard, and Visa (EMV), contactless cards, tokens, NFC phones, and the acclaimed national common mobility card (NCMC) aka. One nation one card to make contactless payments at AFC ticket readers.

- Offers compatibility with third-party independent mobile wallets, Unified Payment Interface (UPI), EMV and RuPay payment modes for open loop bank cards, account-based ticketing, and offering true cashless payment experience.

Commenting on this occasion Mitul Mehta, Chief Marketing Officer, Datamatics, expressed, "Enterprises prioritize customer experience, with convenience being a primary parameter in decision-making. In today's business landscape, customer experience reigns supreme. At Datamatics, our technology empowers our clients to deliver exceptional experiences to their customers. We are excited to receive the FINTECH India Innovation Awards 2024 for our excellence in providing the Best Customer Experience Services through our Automatic Fare Collection Solutions."

Datamatics AFC solution enables seamless commuter transfer for over 40 million travelers, facilitating over 100 million ticketing transactions every day. Datamatics' Automatic Fare Collection system powers commuters with a secure cashless travel solution at the same time, provides operational benefits to transit operators spanning major cities across the world. With our successfully delivered AFC projects worldwide, Datamatics is dedicated to elevating commuter experiences across the world."

Shares of Datamatics Global Services Limited was last trading in BSE at Rs. 605.90 as compared to the previous close of Rs. 605.95. The total number of shares traded during the day was 18625 in over 1708 trades.

The stock hit an intraday high of Rs. 614.65 and intraday low of 601.00. The net turnover during the day was Rs. 11304107.00.

Source : Equity Bulls

Keywords

DatamaticsGlobalServices INE365B01017 FINTECHIndiaInnovationAwards2024 BestCustomerExperience AutomaticFareCollection