Aurionpro-led SC Soft forays in the Egyptian market, ties with e-Finance; Stock ends at 10% upper circuit

Aurionpro Solutions-led subsidiary SC Soft Pte. Ltd on Tuesday announced its foray into Egypt as it has been selected by E-Finance led consortium to supply portable ticket validators for the Egyptian National Railway Project.

Sanjay Bali, CEO of SC Soft, while commenting on the order win said that “we are pleased to announce this win as this marks our foray into Egyptian market and will further consolidate our leadership position in AFC market.”

In its regulatory filing, Aurionpro stated that Egyptian National Railways has sought to implement an AFC system that will serve the current and upcoming railway lines and other modes of transport. The new system will use EMV contactless smart cards, QR tickets for multiple journeys. It has been set as a future for multimodal journey platform and ticketing system for the upcoming transportation digitization in Egypt.

SC Soft Pte. Ltd., an Aurionpro subsidiary, is amongst the key partners of E-Finance in this project. SC Soft’s modern state of the art AFC systems supports all fare media and payment methods including closed-loop systems (smart cards), open-loop systems and payments (contactless EMV) and mobile apps for payments, top-ups and ticketing.

On Sensex, Aurionpro closed at the upper circuit of Rs156.85 per piece up by 9.99%.

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( With inputs from indiainfoline)