YES Bank has partnered with Gujarat State Road Transport Corporation (GSRTC) to digitize payments of Bus Tickets for its customers. Under the partnership, YES Bank will install over 125 PoS (Point-of-Sale) Terminals to facilitate bookings of tickets through Credit and Debit Cards at all GSRTC bus depots. The Bank is already live with 50 terminals and will achieve a number of 125 in the next couple of weeks as part of the first phase of implementation. The initiative will cover all municipal corporation locations and multiple cities including Ahmedabad, Rajkot, Vadodara and towns including Bhuj, Dahod, Palanpur and Valsad.
The installation of these terminals will go a long way in supporting the ‘less-cash’ economy envisaged by the Government of India, while also offering enhanced convenience and ease to the citizens of Gujarat travelling by GSRTC buses. Currently GSRTC handles over Rs 70 crore worth of transactions in cash at its counters and over 50% of these transactions are expected to shift to Card transactions thereby reducing cash usage. This partnership serves as a win-win situation for both GSRTC as well its customers.
YES Bank is engaged in providing a range of banking and financial services. The Bank operates in four segments: Treasury, Corporate / Wholesale banking, Retail banking and other banking operations.
