AGS Transact Technologies Limited has enabled UPI QR-based cash withdrawals across more than 1,000 ATMs of an unnamed public sector bank, the company announced on Wednesday.
The new feature allows customers to withdraw cash by scanning QR codes through their bank’s mobile app instead of using physical cards.
The shares AGS Transact Technologies Limited were trading at ₹90.37 up by ₹2.92 or 3.34 per cent on the NSE today at 11.55 am.
The integration aims to provide a faster banking experience while reducing the risk of card-based fraud. AGS Transact, which earns a fee per ATM transaction, has implemented this technology across the bank’s ATM network spanning both urban and rural areas.
The company is among India’s leading integrated omni-channel payment solutions providers. As of June 30, 2024, AGS Transact had deployed 248,834 payment terminals nationwide, including 41,777 terminals at petroleum retail outlets.
AGS Transact Technologies, established in 2002, offers various services including ATM and CRM outsourcing, cash management, and digital payment solutions. The company operates across three main segments: Payment Solutions, Banking Automation Solutions, and Other Automation Solutions.