Successful Renewal of Commercials with India’s Leading Private Sector Bank for ATMs Management Under Outsourcing Portfolio; Expected to Generate ~INR 30 Crore Annually
Successful Renewal of Commercials with India’s Leading Private Sector Bank for ATMs Management Under Outsourcing Portfolio; Expected to Generate ~INR 30 Crore Annually
Bengaluru, July 9, 2024 – AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), one of the leading provider of integrated omni-channel payment solutions in India in India in terms of providing digital and cash-based solutions to banks and corporate clients, has announced the successful renewal of its commercial with a leading private sector bank in India, for managing their ATMs under its Outsourcing Portfolio.
The revised commercials introduce a hybrid fee model, combining transaction-based and fixed fee components, and are projected to generate about INR 30 crore in annual revenue for the company’s Payment Solutions business segment. This development underscores AGS Transact Technologies’ ability to adapt in a rapidly evolving market. Furthermore, it reinforces the company’s leadership in the ATM/CRM outsourcing industry and aligns with our strategic goals of sustainable growth and value creation for our stakeholders.
As of March 31, 2024, AGS Transact Technologies Limited is the second largest Managed Services Provider (MSP) in India, with 38,418 ATMs and CRMs under our outsourcing business portfolio.
About AGS Transact Technologies Limited (AGSTTL)
Established in 2002, AGS Transact Technologies Limited (BSE: 543451| NSE: AGSTRA) is one of the largest integrated omni-channel payment solutions providers in India in terms of providing digital and cash-based
solutions to banks and corporate clients. AGS Transact provides customised products and services comprising ATM and CRM outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets. The company operates in three broad business segments, namely, Payment Solutions; Banking Automation Solutions; and Other Automation Solutions.
Ongo is a fast-growing omnichannel digital payment platform by AGS Transact Technologies, which offers convenient payment solutions. Launched in 2015, Ongo offers merchant Acquiring and Prepaid Issuance services. Ongo is a non-bank prepaid payment instrument and offers dedicated open-loop prepaid solutions for consumers in segments. AGS Transact Technologies serves diverse industries such as banking, retail, petroleum, toll and transit, cash management and fintech in India and other select countries in Asia. As of March 31, 2024, the company has deployed 248,585 payment terminals and was one of the largest deployers of PoS terminals at petroleum retail outlets in India, having rolled out 41,756 terminals at various petroleum retail outlets. For more information,
please visit www.agsindia.com
