AGS Transact Technologies wins Rs 1,100cr order from SBI for ATM deployment

AGS Transact Technologies Limited, a leading provider of integrated omni-channel payment solutions in India, has announced a significant order win worth INR 1,100 crore over seven years from the State Bank of India (SBI), the country’s largest public sector bank. This deal involves deploying more than 2,500 ATMs under AGS Transact’s Outsourced/Managed Services portfolio.

Deployment of ATMs Under the Total Outsourcing Model

AGS Transact will deploy these ATMs on a Transaction fee basis, embracing the Total Outsourcing Model. The company is set to begin the rollout of these new ATMs in the upcoming calendar year, marking a substantial expansion of its ATM network across India.

AGS Transact Technologies announces sgnificant order win with SBI for extensive ATM network

Impact on AGS Transact’s Payment Solutions Business

Executive Director of AGS Transact Technologies Limited, Stanley Johnson, expressed excitement over this significant order win. He emphasized that the addition of these ATMs for SBI would notably strengthen AGS Transact’s Payment Solutions business segment. Securevalue India, a cash management subsidiary of AGS Transact, will also play a crucial role in servicing a considerable number of ATMs under this order.

AGS Transact’s Expanding Footprint in India

As of September 30, 2023, AGS Transact Technologies Limited has installed, managed, or maintained 77,658 ATMs/CRMs across 2,200 cities and towns in India, showcasing its vast reach and expertise in the financial technology sector.