Extension of a contract from the Indian Bank Ltd. for reconciliation of card and digital transactions with a projected revenue of INR 50 crores over a period of 3 years
Extension of a contract from the Indian Bank Ltd. for reconciliation of card and digital transactions with a projected revenue of INR 50 crores over a period of 3 years
Bengaluru, October 14, 2024, – AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), 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, announced that it has received an extension of a contract from the Indian Bank Ltd. for reconciliation of card and non-card transactions. This contract comes under the Payment Solutions offered by AGS Transact. The projected revenue from this contract over a three- year period is approximately INR 50 crores.
Commenting on the development, Mr. Alok Singh, Executive Vice President, AGS Transact Technologies Limited said, “It gives us an immense pleasure to announce the extension of this contract. This contract win gives us the confidence to continue providing the best-in- class services to all our clients. We remain optimistic about the growth of digital transactions and the services we provide to the Indian banking industry.”
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.
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
Safe Harbour Statement:
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.
