Boosts ATM Security for 26,000+ Machines with GMV’s Enhanced Solutions
AGS Transact Technologies Limited
Boosts ATM Security for 26,000+ Machines with GMV’s Enhanced Solutions
Bengaluru, September 16, 2024: AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), one of the leading providers of integrated omni-channel payment solutions in India, providing digital and cash-based solutions to banks and corporate clients, today announced that it is strengthening security measures across 26,000+ ATMs in its network. The company has started implementing the latest security upgrades released by GMV, a Europe-based global leader in advanced technology solutions.
This security enhancement aligns with AGS Transact’s commitment to proactively meet regulatory guidelines mandating stringent security protocols for ATMs. Further, it ensures that AGS Transact’s customers benefit from secure and innovative payment solutions, reinforcing operational excellence and customer trust.
GMV’s solutions are designed to address the growing challenges in financial sector. AGS Transact has integrated several newly released features from GMV, specifically aimed at enhancing ATM security and operational efficiency. These features enable the company to protect both its ATM infrastructure and customers from existing and emerging threats. Some key enhancements, developed with feedback from the user community, include:
1) Whitelisting of ATM processes to prevent any unauthorised modification
2) ACL Merger Tool streamlining access control management across the ATM network
3) Hard Disk Encryption for stronger protection against potential hardware breaches
4) Gateway and Server Log Harvesting from Server’s Console improving operational monitoring and incident response
5) Support for M.2 Disks in ATMs improving ATM performance and reliability
6) Support for SQL Server 2022 Database enabling compatibility for more efficient ATM transactions
The initial partnership with GMV, established in 2017, allowed AGS Transact to leverage advanced security solutions to protect its ATM infrastructure from evolving threats. These upgrades are part of Company’s ongoing strategy to remain ahead of potential threats in the rapidly evolving digital and payment landscape, ensuring safe and reliable financial transactions for its customers.
As of June 30, 2024, AGS Transact Technologies has a total installed base of 73,000+ ATMs & CRMs. Its state-of-the-art transaction switching software processed ~625 million switching transactions in FY24.
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 across 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 June 30, 2024, the company has deployed 2,48,834 payment terminals and was one of the largest deployers of PoS terminals at petroleum retail outlets in India, having rolled out 41,777 terminals at various petroleum retail outlets. For more information, please visit www.agsindia.com
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Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily Predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
