AGS Transact Technologies was one of the largest integrated omni-channel payment solutions provider in India in terms of providing digital and cash-based solutions to banks and corporate clients, as of March 31, 2021. It 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. As of March 31, 2021, the company was the second largest company in India in terms of (i) revenue from ATM managed services under the outsourcing model, and (ii) revenue from cash management and number of ATMs replenished. It also pioneered IPS with OMCs.

The company started providing banking automation solutions in India in 2004. It deployed products from international solution providers such as Diebold Nixdorf and established its own country-wide service infrastructure and automation solutions expertise to provide related services. Beginning in 2009, it leveraged its banking automation solutions expertise and service reach to offer ATM outsourcing and managed services by, among other things, entering into two cooperation agreements with Diebold Nixdorf for banking and retail products. As part of its strategy to strengthen its presence in the cash value chain, offer an integrated payments platform and improve its operational efficiencies, it commenced offering transaction switching services in 2011 and cash management services in 2012. In 2014, it expanded its offerings into digital payment solutions, enhancing its integrated digital platform and Software-as-a-Service (SaaS) capabilities. In 2016, it also entered into an alliance with ACI Worldwide (ACI), a leading international payments solution provider, which has further strengthened its value proposition to customers.

Business area of the company

The company operate its business in Payment Solutions; Banking Automation Solutions; and other Automation Solutions (for customers in the retail, petroleum and colour sectors) segments. The company’s Payment Solutions segment comprises ATM and CRM outsourcing and managed services, cash management services, iCDs, digital payment services which include toll and transit solutions, Fastlane, transaction switching services, services through POS machines and agency banking. Its Banking Automation Solutions business segment, which commenced in 2004, comprises sale of ATMs and CRMs, currency technology products and self-service terminals and related services and upgrades. Its Other Automation Solutions business segment encompasses the sale of machines and related services to customers in the retail, petroleum and colour segments.

Key Awards, Accreditations, Certifications and Recognitions

• 2007: Top Mall Intelligence Deal (Retail) from Wincor Nixdorf Asia Pacific.
• 2008: Overall Best Sales partner (Retail) from Wincor Nixdorf Asia Pacific.
• 2009: Recognized as a valued partner for one year by Wincor Nixdorf Asia Pacific.
• 2009: Listed as one of the Best Retail Suppliers by Retailer magazine.
• 2009: Silver award under the ‘newsletter’ category from the Association of Business Communicators of India (“ABCI”).
• 2010: Bronze award under the ‘newsletter’ category from ABCI.
• 2011: Bronze award under the ‘newsletter’ category from ABCI.
• 2012: Gold award under the ‘newsletter’ category from ABCI.
• 2015: MICE Travel Mart corporate star award for best incentive programme for employees/associates.
• 2016: ACI innovation award.
• 2016: Achievement Award from Hughes Users in Banking.
• 2016: Bronze award for ‘newsletter’ category from ABCI.
• 2016: Innovative product of the year award for ‘cash management solutions’ from CMO Asia.
• 2017: India’s Most Trusted Company 2017 from International Brand Consulting Corporation, USA.
• 2017: Payment Awards for ‘digital payment facilitator’ to ‘Ongo’ from BBC Knowledge.
• 2017: Silver award in the ‘E-zine’ category from ABCI.
• 2017: Silver award in the ‘wallpaper’ category from ABCI.
• 2017: Bronze award for ‘newsletter design’ category from ABCI.
• 2018: ‘Emerging Brand of the Year’ award at the Brand Excellence Awards presented by ABP News.
• 2018: Asia’s Most Trusted Payment Solutions Company 2018 from IBC Infomedia.
• 2018: ‘Brand of the Decade’ award in the category for Payment Solutions from ERTC Media.
• 2019: ‘QR Champions’ award at the REACH Acceptance Summit 2019.
• 2019: ‘Best Retailer Adoption of Emerging Payments Technology’ at the Indian eRetail Awards 2019 organized by Franchise India.
• 2019: Featured as one of Next 500 Companies; ranked 111 by revenue under Top Mid-size Companies, by Fortune India.
• 2020: Certificate of Excellence for QR-Cash Solution under Technology - Category at 2nd Economic Times BFSI Innovation Tribe Summit & Awards.
• 2021: Won the ‘Best Use of Technology Award 2021’ in the category - Financial Services for AGS QRCash solution awarded by National Enterprise Tech Connect.
• 2021: Recognized as ‘Iconic Brands of India 2021’ by the Economic Times.
  

Major Events

• 2002: Incorporation of the company.
• 2004: Commenced manufacturing of paint dispensers at Daman with the expertise from Fast and Fluid Management
• 2004: Commencement of relationship with Diebold Nixdorf.
• 2004: Commenced operations in Banking Automation Solutions segment.
• 2009: Entered into a cooperation agreement with Diebold Nixdorf for banking and retail products.
• 2009: Commenced ATM outsourcing and managed services business (forming part of Banking Payments Solutions segment).
• 2011: Introduced currency technology solutions under the brand “Genuine”
• 2011: Investment in Company by TPG.
• 2012: Investment in Company by Oriole.
• 2012: Commenced cash management business through SVIL.
• 2013: Acquisition of stake by GTSL in Novus SGP.
• 2014: ITSL received authorization from the RBI to set up and operate payment system for semi-closed pre-paid payment instruments services in India.
• 2014: The Company received authorization from the RBI to set up, own and operate payment systems for White Label ATMs.
• 2016: Commenced ATM manufacturing at Daman.
• 2016: Entered into a hosting and management services alliance with ACI Worldwide.
• 2016: Entered the Sri Lankan market through Novus Transact Lanka (Private) Limited.
• 2016: Entered into transit business through automatic fare and electronic toll collection systems.
• 2018: Launched Fastlane as the first RFID payment for fuel in India.
• 2018: Among the first company to launch QR-code based payments for various card schemes.
• 2019: Set up AGS Community Foundation with effect from September 24, 2019.
• 2019: Introduced an Asia-Pacific payment innovations forum ‘Paynnovate’ along with Novus Technologies, to promote advancement and innovation in the payment industry.
• 2019: Introduced UPI QR Based Cash Withdrawal, India’s first UPI QR-Based Cash Withdrawal/Deposit Feature on ATMs powered by the Company’s technology, enabling touchless transactions.