Source: ACI Worldwide
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.”