MUMBAI, India--(BUSINESS WIRE)--AGS Transact Technologies Limited, India’s leading end-to-end payment solutions provider for the banking, retail and petroleum sectors, today announced a strategic alliance with ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions. This alliance will bring ACI’s Universal Payments capabilities to the Indian market via a comprehensive cloud-based managed services offering that integrates cross-channel payments, fraud prevention and transaction management capabilities.
Globally, ACI Worldwide executes $14 trillion payments each day for more than 1,000 of the largest financial institutions and intermediaries as well as thousands of leading merchants. Banks and retailers, as well as the new India Payment and Savings Bank license holders, increasingly are asking for an outsourced and fully managed end-to-end model. The combination of AGSTTL’s existing outsourcing capabilities and dominant market presence in India with ACI’s robust fraud and payments solutions and industry experience will directly address needs in the Indian market.
“This collaboration uniquely enables AGSTTL and ACI to collectively address a critical need impacting the Indian financial services and retail markets to develop a ‘one-stop-shop’ platform for payments, fraud and transaction management capabilities,” said Ravi Goyal, chairman and managing director, AGS Transact Technologies Ltd. “Backed by ACI’s global technology lineage, AGSTTL will offer a comprehensive multi-channel solution to increasingly capex and time-to-market-conscious banking and retail companies.”
“AGSTTL brings a valuable combination of capabilities, market presence and a unique delivery model to India. Its set of outsourced services for payments, fraud and transaction management presents a compelling offering in this important market,” said Craig Saks, group president, strategic products, ACI Worldwide. “Using a hosted model, provided by a trusted and well respected partner such as AGSTTL, customers in India will be able to rapidly deploy relevant solutions across multiple channels—with a dramatically lower total cost of ownership.”
About AGS Transact Technologies Ltd.
Established in 1992,
AGSTTL transformed into transaction management business in 2002 and
today, is one of India’s leading end-to-end payment solutions provider
with a wide spectrum of highly customized products instated with
state-of-the-art technology for the banking, retail and petroleum
sectors. AGS operates across 700 cities and towns reaching out to over
100,000 customer touch points across India and boasts of an impressive
footprint in South East Asia. Pioneering the change in financial
technology space, our three major lines include Banking Automation
Solutions, Banking Payment Solutions, Automation Solutions for the
retail, petroleum and colour sectors while the group is focused on
establishing an alternate transactions ecosystem through their brand,
Ongo.
About ACI Worldwide
ACI Worldwide, the Universal
Payments (UP) company, powers electronic
payments for more than 5,100 organizations around the world. More
than 1,000 of the largest financial institutions and intermediaries as
well as thousands of global
merchants rely on ACI to execute $14 trillion each day in payments
and securities. In addition, myriad organizations utilize our electronic
bill presentment and payment services. Through our comprehensive
suite of software and SaaS-based
solutions, we deliver real-time, immediate
payments capabilities and enable the industry’s most complete omni-channel
payments experience. To learn more about ACI, please visit www.aciworldwide.com.
You can also find us on Twitter @ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2016.
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