Amnex and Mastercard collaborate to make payments in transit quicker and more convenient

Ahmedabad (Gujarat) [India], May 14: Amnex Infotechnologies and Mastercard have decided to collaborate to build payment acceptance solutions in the urban mobility space to make transit quicker and more convenient. This collaboration reflects the mutual commitment of the two companies to co-build new-age transit solutions across 20 cities in India (starting with 2 pilot implementations), Middle East, and other locations. 

Mobility as an industry is estimated to be valued at USD 11 billion in India, with bus transit having the largest share in it. Large amounts of payments in the industry are still dominated by cash. In line with the government’s vision of building a ‘Cashless India’, Amnex and Mastercard  would  collaborate in the mobility space to enable payment acceptance solutions that would encourage use of digital modes of payment for various modes of transit starting with in-bus payments. 

Amnex is a future-first solutions enterprise committed to solving real-world challenges across high-impact sectors. With over 10 years of experience, the company has been successful in building and implementing projects across key areas, such as Smart Cities, Energy and Utility, and Manufacturing. It has particularly excelled in delivering solutions for large projects covering Smart Cities, Agriculture, Public Transport, and Traffic Management across India. 

“This collaboration with Mastercard aligns perfectly with our vision to drive innovation and transform industries, starting from India and then expanding globally. Our focus on leveraging technology to create seamless solutions for Smart Cities and Transit Systems will revolutionize the way people commute and transact. This association underscores our commitment to advancing digital payments and contributing to the realization of a ‘Cashless India,” said Aneri Patel, Co-Founder & Director, Amnex. 

Mastercard is a key player in open loop payments, a payment system that provides consumers with a seamless transaction experience while using public transport services. The company is committed to making riders’ journey simpler, quicker, and more efficient across all modes of transportation. 

“With countries heavily investing in infrastructure and transport systems to make their cities smarter, it’s imperative for the private sector to complement these efforts by enabling smart mobility solutions. Mastercard is delighted to collaborate with Amnex as this association will reduce consumers’ reliance on cash for payments while making commuting simpler, quicker, and more efficient for them across all modes of transportation,” said Sushil Jadhav, Vice President & Head – Acceptance and Platforms at Mastercard.