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  • Cros is Launching to Streamline Collaboration between Enterprises on Distributed Ledger

    Cros is Launching to Streamline Collaboration between Enterprises on Distributed Ledger

    • A flagship project of Bussr Technologies, the leading Singaporean payments infrastructure platform for mobility companies

    Cros Network (cros.network) is launching to streamline the collaboration between enterprises using distributed ledger. Cros is a cross-organizational platform designed to facilitate business process execution on a foundation of ownership, trust, and control. With this protocol, businesses can collaborate and securely execute their business processes in a tamper proof manner, without trusted intermediaries.

    While the global B2B e-commerce market size is estimated to reach $20.9 trillion by 2027, the industry has operational shortcomings that would prove more inefficient inching towards this growth; especially that business process collaboration could triple to $100 billion in the next five years, with 80% spent moving, aggregating, cleansing, verifying and sharing data with other businesses and stakeholders. Enterprise revenues are estimated to decrease by 27 to 40% as coordination costs increase proportionally by degree of specialization. Retailers in Asia alone lose around $40 billion annually, reliant on siloed processes and absence of trust among enterprises.

    The traditional view of markets and enterprises relies on sequential thinking, whether it is supply-chain or business value chain. Companies are slowly realizing that they are part of a larger network, not a link in a chain. This demands an ecosystem approach to resource planning, business process execution and collaboration between the various nodes of the network. Being a cross-organizational network built on distributed ledger, tamper-proof and seamless, Cros aims to fill in these gaps.

    “The solution we envisioned was an innovative cross-org collaboration and integration platform; a decentralized integration platform, into which small and medium businesses can collaborate and correctly execute their business process without the need for trusted intermediaries,” says Cros’ visionary founder Ajay Bhandari, the former Google and Microsoft Chief Architect.

    “Cros translates existing collaborative process models to distributed ledger and ensures that the process is secure and is executed correctly. Distributed ledger checks for compliance before changing a state of process, providing a single source of truth to all participants, and full traceability.”

    Bhandari offers a solution for challenges related to data exchange, complicated transformations, traceability and shared truth, and trust between parties. Cros would be empowering enterprises to collaborate with ease, integrate with their IT infrastructure and Cloud ERPs, while preserving data guardianship and maintaining control.

    Similar problems were solved within the enterprise (intra-business integration) utilizing databases, service bus and ERP systems. However, those technologies and platforms are insufficient for cross-enterprise collaboration, due to concerns of ownership, trust and control. Enterprise today runs on centralized systems, coordinating transactions between suppliers, vendors, business partners and regulators. It is difficult to build consensus on running and operating cross-enterprise collaboration while addressing ownership, trust, and control issues.

    A paradigm shift is necessary, based on a completely revised definition of “ownership,” “control,” and “trust”, the hallmarks of the operational model of traditional business. Distributed ledger technology can be the enabler of such a paradigm shift towards cooperative competition, or “co-opetition”.

    Cros is the flagship project of Bussr Technologies (bussr.com), a leading Singaporean payments infrastructure platform for mobility companies. Bussr Technologies is partnering with best-in-class entities to build Cros, and foster the development of services and applications that will run on it.

    About Cros
    Cros is the natural development evolved from the same ethos and philosophy of Bussr Technologies Ltd, with the aim to streamline collaboration between small, medium, and large enterprises using distributed ledger. Cros’ approach is from enterprise to distributed ledger, thereby easing the familiar challenges of integration with existing infrastructure. Learn more at www.cros.network or contact press@cros.network.

    Media Contact
    HA, Bussr Technologies
    Email: press@bussr.com
    Website: www.bussr.com

  • Bussr to Reach $1 Billion in Sales on Its Mobility Platform in 2022

    Bussr to Reach $1 Billion in Sales on Its Mobility Platform in 2022

    Mobility payment solutions disruptor Bussr has forecast sales of $1 billion in 2022

    Bussr offers a mobility payment solutions platform for businesses and users, powering payments infrastructure for the mobility market using the latest booking and ticketing innovations.

    More than 800 businesses have already signed on to use Bussr’s platform, 100 of which, amounting to US$150 million in annual sales, will go live in 2021.

    Bussr believes that every trip and transaction should empower people to move and connect, with the smallest carbon footprint possible. Every Bussr trip considers distance and environmental impact as well as the ability to reduce urban congestion.
    Bussr is also in the advanced discussion stage with the Indonesian Government to digitize the metro transit ecosystem, with an expected 10 million daily users.

    Bussr’s innovative offerings extend to disrupting the last-mile logistics space; delivery brands and retailers will have a simple, automated way of integrating and adding the most relevant payment options to their business model, delighting their customers with affordable same-day delivery.

    The mobility sector is an immense $2 trillion market that still relies on paper cash, fax machines, and manila envelopes. By 2050, the global population is projected to increase to around 9.8 billion, with more than twice as many people living in urban areas than in rural settings. The need for innovation in the mobility and logistics payments sector is clear.

    “We are tackling a massive $2 trillion market, developing modern software for an industry that still relies on woefully outmoded paper-based systems. We bring security, efficiency, and joy to a paper-based pillar of the global market economy. We want to empower mobility and logistics partners with the right tools for their users. Mobility providers will be able to offer seamless payment options across the entire mobility ecosystem,” said Hussein, CEO of Bussr.

    Bussr’s payment solutions platform allows mobility businesses of all types to have bespoke booking and ticketing solutions for their respective markets. For operators, brands, and retailers, getting onboard with Bussr is a near-effortless three-step process:
    1. Get your branded mobile app and website
    2. Add your product with prices and descriptions
    3. Choose your payment options and start selling

    The overarching theme of efficiency runs deeper — Bussr understands that its responsibilities will ultimately impact people and the planet alike. This means that every trip and transaction should empower people to move and connect, all the while with the smallest carbon footprint possible. Every trip considers distance and environmental impact as well as its ability to reduce urban congestion.

    With the complex goal of changing the way people connect across cities and countries, Bussr benefits from its strong leadership trio: tech entrepreneur Hussein Abdelkarim, former Rocket Internet founder and CEO, I.M. Shousha, veteran technology consultant and co-founder, and Ajay Bhandari, former Microsoft Chief Architect, CTO, and co-founder.

    It’s no surprise that Bussr promises an exciting ride ahead for all on board. To learn more about Bussr, and its goal to digitize mobility and connect the world, join the dialogue at www.bussr.com.

    Contact:
    HA, Bussr Technologies
    E: press@bussr.com
    U: https://www.bussr.com

  • Bussr Rolls Out Nekla Digital Payments to Millions of Users

    Bussr Rolls Out Nekla Digital Payments to Millions of Users

    Bussr, the world-leading artificial intelligence (AI) powered mobility platform, is looking to make its services global in every sense of the word after announcing the rollout of the pioneering digital payment platform, Nekla.

    The Singapore-based transport disruptor announced it will offer its passengers a digital payment option through payment innovator Nekla, allowing millions of underbanked users to pay for Bussr services easily.

    Bussr’s Mobility-as-a-Service (MaaS) technology serves both as a mobile app for private travelers and a full journey ticketing, payment, and fleet management solution for cities and enterprises. Its leading AI platform continuously monitors millions of data points to help large-scale transport operations perform at optimal efficiency for both passengers and operators.

    Bussr currently operates across more than 500 cities, with over 830 transport operators, 60-plus payment partners, and more than 100,000 retail stores. While Bussr has already seen more than 12 million passengers use their platform in less than two years, they believe it is Nekla’s digital-based payment platform that will lead to ubiquity on a global scale.

    A challenge Bussr has been facing, that Nekla addresses, is meeting the demand from emerging markets, where 1.7 billion adults are still locked out of the conventional banking system, even though half a billion of that population have access to the internet. This means over a third of the planet’s adult population is unbanked. For Bussr, that means millions of customers who want to use their platform, but have no reliable way of paying.

    Nekla’s technology can certainly address the issues of providing service to the unbanked with access to money, all the while benefiting from its inherent strengths of trustworthiness and transparency. But what really captured Bussr’s attention was how Nekla could make digital payments beginner-friendly and accessible to millions of people.

    Front-line financial technologies, despite the headlines, are far from reaching mass adoption worldwide. After all, most people don’t have time to study complex algorithms to make a simple payment. Nekla believes that they can bridge the divide between the real world and the digital finance space, and trigger a global, mass uptake of digital finance with a beginner-friendly, easy-to-use payment and lending platform.

    Nekla’s solution to this lofty goal is a global payment ecosystem that is accessible to anyone with a $30 smartphone, and data access. Download the app, deposit local currency to your account from a third-party financial service provider, or deposit cash in a retail store. You then have digital currency that can be used almost anywhere on earth.

    This will allow Bussr to rapidly expand the scope of their operations to the 5.7 billion people in emerging markets in Asia, Africa, and beyond. It’s numbers like that which make Bussr believe they will earn a large share of the global transit and ground passenger transportation market that is predicted to reach US$908.8 billion by 2027.

    Nekla is founded by Silicon Valley and Wall Street pioneers who have banded together to make Finance accessible to everyone on the planet. A wealth of talent and experience is needed to bring such a vast vision to reality, which thankfully, Nekla has. Nekla’s leadership managed the world’s largest internet ventures, led major digital transformation projects for governments and global consulting firms like PwC and Deloitte, and guided industry leaders, acting as Microsoft’s Chief Architect and Google’s Enterprise Architect in billion-customer markets.

    Bussr is backed by high-profile investors, such as Bridford Group, Peng Ong of Monk’s Hill, Le Mercier Group, Jack Selby of Thiel Capital, Altitude Partners, Angela Huang, Duncan Clark, Founder of China BDA, Alibaba early investor and author of the book ‘The House That Jack Ma Built, Andrew Huang of Fountainvest, and Alfa Intelligence Capital. There are also strategic angel investors from Facebook, PayPal, Lyft, Spotify, Zoom, Didi, and Impossible Foods.

    With this experience and knowledge behind it, and with the backing of such influential partners, Nekla believes it can make Digital Finance the new norm for mass-adopted payments and lending around the world.

    Media contact:
    Bussr Technologies
    Email: press@bussr.com
    Website: www.bussr.com

  • How Bussr’s AI-Based Technology Is Set to Reshape the World’s Roads and Economies

    How Bussr’s AI-Based Technology Is Set to Reshape the World’s Roads and Economies

    Singapore-based transport disruptor Bussr has the attention of the global investment community for its vision to change the way the world moves from A to B, and for the abundance of talent at its table. Bussr’s vision springs from the trio of former Rocket Internet founder and CEO Hussein Abdelkarim, veteran technology consultant and co-founder I.M. Shousha, and former Microsoft Chief Architect, co-founder and CTO Ajay Bhandari.

    With people looking for better lives in our cities, the world’s urban population has grown 55% in the last 50 years, and now generates more than 80% of our global GDP. Central to this is mobility, and demand for urban road passenger transport is expected to double by 2050. The economy is reliant on the freedom of movement for its citizens to be productive members of society.

    Forward-thinking cities have had the realization that the future lies in mass transit such as buses, subways, trains, and ferries, as well as walking and cycling. The rise of electric vehicles (EVs), micromobility, Uber, Grab, and Didi have made inroads over the last few years, but much more needs to be done to address the systemic throttling in the global transport sector.

    Hussein Abdelkarim, Shousha and Bhandari see the current transport sector as a chaotic dance. But by digitizing this mobility they trust their technology will bring a choreographed elegance to the way people travel. Each Bussr trip is a choreographed, seamless leap from place to place, leaving cities less congested, less polluted, free to breathe again. All of which are part of Bussr realizing its goal of “Digitizing mobility. Connecting the world.”

    Bussr’s Mobility-as-a-Service (MaaS) technology acts as both an app for private use and an end-to-end, omnichannel ticketing, payment, and fleet management solution for enterprises. Its specialist artificial intelligence (AI) platform continually monitors millions of data points to help mass transportation systems operate at optimal efficiency for both passengers and operators.

    Bussr’s app can be branded or white-labeled for transport providers and is available to cities, operators, schools, and corporates. The enterprise use of Bussr allows the management of ticketing and payment and provides immense data insight into traveller flow, density, and timing. Operators can then accurately predict and plan the future needs of both passengers and transport solutions.

    Bussr’s Big Thinking Has Attracted Big Backing

    Bussr recently raised an undisclosed amount in a round led by high-profile investors, such as Bridford Group, Peng Ong of Monk’s Hill, Le Mercier Group, Jack Selby of Thiel Capital, Altitude Partners, Angela Huang of Hillhouse, Duncan Clark, Founder of China BDA, Alibaba early investor and author of the book ‘The House That Jack Ma Built,’ Andrew Huang of Fountainvest, and AI Capital, the founding team of Siri. There are also strategic angel investors from Facebook, PayPal, Lyft, Spotify, Zoom, Didi, and Impossible Foods.

    The funds will expand Bussr teams across engineering and product design while also creating further strategic partnerships to enhance its reputation as a global player in mobility technology, a market that analysts say will reach US$908.8 billion by 2027. And Bussr, by digitizing this mobility market, trust that their technology will bring an elegance to the way people travel.

    The Bussr app is available on Android and iOS, and can provide full travel options utilizing ride-sharing, public buses, trains, renting of scooters, and even bicycles to complete a trip. The user enters Point A and Point B, and the app manages every facet of the journey, AI providing the optimal route in terms of time and cost, while reducing the carbon footprint by reducing dependence on single-occupant vehicle use.

    Bussr also offers real-time communication, fleet maintenance, and automated workflows creating the foundations of efficient fleet management. Cities and operators will ultimately be able to manage their citizen and passenger mobility needs better while reducing pollution and congestion. Future-proofing benefits for governments and private mobility partners include facial recognition capabilities for passenger check-in, safety, and security.

    More than 900 transport partners are enjoying the advantages of Bussr technology including Bluebird, the largest private transportation group in Southeast Asia, and Royal Platinum and Pahala Kencana, the largest intracity and intercity private operators in Indonesia. There are also 60 major payment providers already on the Bussr platform, and with 2,500 destinations in 370 cities, more than 6,000,000 travellers used Bussr’s network in 2020.

    Please contact:
    Media Relations, Bussr Technologies
    E: press@bussr.com, Web: www.bussr.com