AGS Transact Technologies Ltd
About
Incorporated in 2002, AGS Transact Technologies Ltd is an integrated omni-channel payment solutions provider of digital and cash-based solutions to banks and corporate
clients
Key Points
Business Overview:
a) The company is one of the largest integrated omnichannel payment solutions providers, catering to banks and corporates across various industries.
b) It provides digital payment solutions, Ongo and Fastlane, and is one of the largest deployers of POS terminals at petroleum outlets in India.
c) AGS is the second-largest ATM servicing and cash management company in India, with a presence in ~2,200 cities and towns.
Key Data Points
- ATMs/CRMs Managed/Serviced: ~75,361
- Merchant POS installed: ~2,48,585
- Touch points: ~4,86,403
- Cash management services to ATMs through SVIL: ~38,418
Business Verticals:
a) Payment Solutions:
Prepaid Cards, Ongo ecosystem, switching transactions, AFC & Toll solutions, Cash management, DCV
services, doorstep banking, cash processing and vaulting maintenance, Equipment provision, Cash management, Monitoring & Incident management and Second Line Maintenance
b) Banking Automation Solutions:
ATM /CRM, currency technology solutions, self-service kiosks
c) Other Automation Solutions:
Billing terminals and automation software to customers across multiple sectors
Products & Services:
a) Banking Automation Solutions:
Cash Dispensers, CRMs, Banking Transaction Terminals, Note Sorters, Annual Maintenance, Upgrades and
Software, Spare Parts
b) Other Automation Solutions:
Cash Billing Terminals, Digital Signage Software, forecourt
controller, maintenance services, software customization, Operational implementation & support services,
automatic paint dispensers
Platform:
Ongo is the company's omnichannel digital payment platform, offering convenient payment solutions. It provides merchant acquiring and prepaid issuance services. Additionally, Ongo is a non-bank prepaid payment instrument that offers dedicated open-loop prepaid solutions for consumers in various segments.
Clientele:
The company has orders in hand from major OMCs, including HPCL and IOCL. Other corporate customers for their digital portfolio include Dr. Lal Pathlabs Ltd.
Patanjali Ayurved Ltd, Sunshine Teahouse Pvt Ltd (Chaayos), RJ Corp Ltd, VRIPL Retail Pvt Ltd, Om Sweets,
Lata Mangeshkar Medical Foundation, and Organic India Pvt Ltd.
User Industries:
Banking, retail, petroleum, toll and transit, cash management and fintech in India and other
select countries in Asia
Revenue Breakup - FY24:
Cash Payment Solutions ~67%,
Digital payment solutions ~20%,
Banking Automation Solutions ~10%,
Other Automation Solutions ~3%
Order Book:
a) Company received an Order for 1,350 ATMs from State Bank of India under its Banking Automation Solution Segment
b) Won Order of ~Rs. 1,100 Cr over 7 Years from State Bank of India for deploying 2,500 ATMs under the Outsourced Services Portfolio
Business Updates - FY24
a) Reached ~47,500 users for RuPay-
backed National Common Mobility Card (NCMC) for Bangalore Metro Rail Corporation
b) Launched Ongo Open-loop Cobranded Prepaid Cards with an Indian FMCG conglomerate
c) Commenced Pilot-testing of the Open-loop Contactless Fuel Payment Solution on the Ongo App at Select Fuel Retail Outlets of one of the OMCs in Mumbai, and onboarded 580 fleet vehicles in the pilot phase in Mumbai
d) Completed the deployment of ~270 Dedicated Cash Vans of Order Value ~Rs. 2,500 mn over 5 years by a wholly owned subsidiary, Securevalue India
Limited
Future Outlook:
Company in the process of developing an asset-light digital business model focused on expanding its PPI infra and leveraging digital payment ecosystem, Ongo, through collaborations across the FMCG, Mobility, and Fuelling sectors, etc.