Bus ticketing portal Abhibus.com launches its own wallet service ‘abhicash’

MUMBAI: Bus ticketing portal Abhibus has launched its wallet service ‘abhicash’.

“It is a fast and convenient way for travellers to get their refunds from a cancelled or a failed transaction. All the credits in the abhicash account can be used in any future transaction with unlimited validity,” Biju Mathews, COO, Abhibus.com said in a press statement.

A customer cannot deposit money directly into your abhicash account but transfer abhicash from one registered user to another abhicash user. Rewards, refunds, offers are instantly credited to the wallet account.

Abhibus plans to invest around Rs 150 crore over the next two years to expand its presence. Over the next 18 years the company will focus on expanding its presence in the southern and western parts of the country. It targets to more than double its daily ticketing transactions to 50,000 by 2017 from 20,000 now.

Abhibus targets a turnover of Rs 600 crore this fiscal, up from Rs 250 crore last year.

The company currently gets 40% of its transactions through its mobile app and will push for more bookings through this medium.

Founded in 2007, Abhibus started as a back-end technology provider to bus operators. In 2012, it launched its own website to allow customers to directly book tickets on its platform.