Renewal of ATM Management Contract with Leading Indian Bank to Generate ~INR 30 Crore Annually
Bengaluru, July 10, 2024 – AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), one of the leading providers of integrated omnichannel payment solutions in India in India in terms of providing digital and cash-based solutions to banks and corporate clients, has announced the successful renewal of its commercial with a leading private sector bank in India, for managing their ATMs under its Outsourcing Portfolio.
The revised commercials introduce a hybrid fee model, combining transaction-based and fixed fee components, and are projected to generate about INR 30 crore in annual revenue for the company’s Payment Solutions business segment. This development underscores AGS Transact Technologies’ ability to adapt to a rapidly evolving market. Furthermore, it reinforces the company’s leadership in the ATM/CRM outsourcing industry and aligns with our strategic goals of sustainable growth and value creation for our stakeholders.
As of March 31, 2024, AGS Transact Technologies Limited is the second largest Managed Services Provider (MSP) in India, with 38,418 ATMs and CRMs under our outsourcing business portfolio.
