Thursday, June 13, 2024

AGS Transact Technologies Set Up Addition Of New Cash Vault Facility In Bengaluru

Wholly-owned cash management subsidiary of AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), Securevalue India Ltd. (SVIL), has set up a new cash vault facility in Bengaluru, Karnataka. This state-of-the-art facility will offer world class cash processing and vault services. The addition of this new cash vault facility is expected to further enhance company’s cash management operations across Karnataka.

SVIL’s new cash vault facility is spread over an area of 14,000 square feet. It is equipped with topnotch security features, including 24x7 CCTV monitoring, intrusion systems with motion sensors, fire alarm systems, interlocking systems and other advanced access control systems to ensure highest level of security for the stored cash.

Commenting on the development, Shailesh Shetty, Managing Director, Securevalue India Limited said, “The new state-of-the-art cash vault facility in Bengaluru is significant for the cash management operations at Securevalue India. Our focus is on optimising route operations and other processes to maximise growth, revenue, and profit margins. This facility will enable us to provide best-in-class cash-in-transit services with higher operational efficiency and security. Furthermore, its strategic location will offer us a competitive advantage.”

Securevalue India Limited is the second-largest cash management company in India. As of March 31, 2024, SVIL services 38,418 ATMs/CRMs across 1,800+ locations in India and has an expansive infrastructure of 47 vaults & 400+ spoke locations, and 2,370+ secure cash vans.

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. Furthermore, Ongo is a non-bank prepaid payment instrument and offers dedicated open-loop Prepaid solutions for consumers in 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 March 31, 2024, the company has deployed 248,585 payment terminals and was one of the largest deployers of PoS terminals at petroleum retail outlets in India, having rolled out 41,756 terminals at various petroleum retail outlets.

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