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The Silicon Review Asia

AGS Transact Technologies: ‘Pioneering the Change in Financial Technology Space’

The Silicon Review
May, 2019

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“We are one of India’s leading providers of end-to-end cash and digital payment solutions and automation technology.”

Digital payments in the financial sector is a reflection of the way technology has evolved and been accepted over time. Nowadays trouble-free transactions can be executed by a few clicks sitting anywhere at any point in time. Digital payments through mobile wallets and mobile banking apps, which can be easily downloaded onto a smartphone, bring a hassle-free transaction mechanism for all users who have a bank account.

In view of the above-mentioned scenario, we’re delighted to present AGS Transact Technologies.

AGS Transact Technologies provides cash and digital payment solutions, and automation technology products for the banking, retail, and petroleum sectors in India and internationally. It operates through three segments: Payment Solutions, Banking Automation Solutions, and Other Automation Solutions.

The company offers payment solutions, such as automated teller machine (ATM) outsourcing and managed, cash management, transaction switching and digital payment, merchant, automatic vehicle fueling, toll and transit, agency banking, and electronic payment services, as well as intelligent cash deposit (iCD) machines. It also provides ATM machines, voice recognition and video teller machines, cash recyclers, and banking transaction terminals; currency technology solutions and note sorters; and other banking services which include annual maintenance, hardware and software upgrade, and spare parts for the repair of ATMs and other automated banking hardware products.

As of June 2018, the company has installed and managed/maintained approximately 72,000 ATMs and has approximately 50 banking customers.

In addition, AGS Transact offers cash billing terminals and digital signage software solutions; maintenance, software customization, and managed services, as well as spare parts for the repair of POS terminals and other automation equipment for the retail sector. Further, it provides retail outlet automation solutions to the petroleum sector; automatic paint dispensers for the colour sector; and automatic fare collection and electronic toll collection systems for the transit businesses.

The company was incorporated in 2002 and is headquartered in Mumbai, India.

AGS Transact Technologies: Synopsis

Banking Automation: ‘Helping Banks Strengthen Client and Customer Relationships’

AGS Transact’s Banking Automation Solutions business segment, which commenced in 2004, comprises of the supply and installation of ATM machines, and other banking automation products and the provision of services, including maintenance, software and hardware upgrades and spare parts. The company brings efficiency into the banking system by automating back-end and front-end applications through various high technology products such as ATMs, Cash Deposit Machines, Transaction Terminals and other self-service facilities.

A leading partner to top banks in India, AGS Transact Technologies provides intelligent automation solutions to help banks strengthen client and customer relationships, capture new markets and reduce overall costs, making touch-points more customer-centric and transactions smoother.

Cash Management: ‘Offering Complete Line Maintenance and Cash in Transit Services’

Along with ATM hardware and software infrastructure, AGS offers Complete Line Maintenance and Cash in Transit services through its fully owned subsidiary Securevalue India Limited (SVIL), thereby effectively managing the key banking function in the cash flow cycle. As of March 2018, AGS Transact Technologies is the fourth largest company in India in terms of revenue from cash management.

Retail Automation: ‘Ensuring Consistent Footfalls and Value Creation’

AGS Transact equips the retail sector with state-of-the-art automated payment processing systems and billing software systems to ensure consistent footfalls and value creation through a better understanding of customer behaviour.

Some of the company’s automated payment processing systems include essential payment facilities like billing terminals, card reading machines and cash counting machines. Other value-added services like running loyalty programs and integration of digital payment systems further help strengthen the customer relationship lifecycle and overall performance of the retail company.

Fuel Retail Automation: ‘Providing Solutions that Ensure a Systematic and Standardized End-to-End Performance’

From automating and providing secured fuel delivery to fuel management solutions, AGS Transact offers solutions that ensure a systematic and standardized end-to-end performance. Petrol pump automation systems give its customers access to their sales volume, transaction data along with inventory management in real-time.

By providing accurate data on sales and improving accountability, efficiency and reliability, the company’s fuel management systems enable oil companies and fuel management companies to curb fuel adulteration and enjoy better control on retail outlets.

Extensive experience and knowledge of automated fuel management system combined with its deep understanding of the payment solutions business, AGS Transact was able to integrate the payment solution with retail automation to provide a seamless experience to petroleum retailers as well as to its customers.

Transit Business: ‘Fostering Cashless Commute in India’

Keeping up with the pace of development in the country, AGS Transact offers advanced transit business solutions to foster ‘Cashless Commute in India’. The company’s Electronic Toll collection system is one such example, which provides a mode for digital payments for Toll, thereby smoothening the traffic along National Highways.

By integrating Automatic Fare Collection System(AFC) and Electronic Toll Collection System(ETC) into leading travel infrastructure systems like Metros, Monorails and National Highway network, the company’s aim is to provide a seamless, smooth and quick transit experience for the regular commuter in the coming years.

Colour Automation: ‘Delivering the Right Shade of Colour’

The company’s Colour management system offerings include automatic paint dispenser machines capable of delivering the right shade of colour, which it supplies to paint companies. Paint companies have shifted to the manufacturing of only white base paints and pigment concentrates, also known as colourants. AGS Transact manages the entire life cycle of these machines including deployment, implementation, and maintenance. The company also provides operational and software training for its customers. Its customers include Kansai Nerolac Paints Limited and Berger Paints India Limited.

Ravi B. Goyal: Chairman & Managing Director

Ravi B. Goyal is the founder of AGS Transact Technologies Ltd. and serves as its Chairman and has been its Managing Director since August 2010.

“We provide customised products and services comprising ATM outsourcing, cash management, as well as digital payment solutions including merchant solutions, transaction processing services and mobile wallets.”

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