AGS Transact Technologies Ltd. Company History and Annual Growth Details

The Company was incorporated in Mumbai, Maharashtra, as AGS Infotech Private Limited on December 11,2002 under the Companies Act, 1956. Pursuant to a special resolution of the Shareholders at an extraordinary general meeting held on April 1, 2010, the name of our Company was changed to AGS Transact Technologies Private Limited to reflect the scope of services offered by our Company, i.e., provision of information technology services for all types of transactions and activities. A fresh certificate of incorporation was issued by the RoC on June 3, 2010. Subsequently, pursuant to a special resolution of the Shareholders at an extraordinary general meeting held on June 22, 2010, our Company became a public limited company and the word “private” was deleted from its name. A fresh certificate of incorporation was issued by the RoC on July 20, 2010.


Major Events

2002
Incorporation of our Company

2004
Commenced manufacturing of paint dispensers at Daman with the expertise from Fast and Fluid Management
Commencement of relationship with Diebold Nixdorf. Commenced operations in our Banking Automation Solutions segment

2009
Entered into a cooperation agreement with Diebold Nixdorf for banking and retail products
Commenced ATM outsourcing and managed services business (forming part of our Banking Payments Solutions segment)

2011
Introduced currency technology solutions under the brand “Genuine”
Investment in our Company by TPG

2012
Investment in our Company by Oriole
Commenced cash management business through SVIL

2013
Acquisition of stake by GTSL in Novus SGP

2014
ITSL received authorization from the RBI to set up and operate payment system for semi-closed pre-paid payment instruments services in India
Company received authorization from the RBI to set up, own and operate payment systems for White Label ATMs

2016
Commenced ATM manufacturing at Daman
Entered into a hosting and management services alliance with ACI Worldwide
Entered the Sri Lankan market through Novus Transact Lanka (Private) Limited
Entered into transit business through automatic fare and electronic toll collection systems

2018
Launched Fastlane as the first RFID payment for fuel in India
Among the first company to launch QR-code based payments for various card schemes

2019
Set up AGS Community Foundation with effect from September 24, 2019
Introduced an Asia-Pacific payment innovations forum ‘Paynnovate’ along with Novus Technologies, to promote advancement and innovation in the payment industry.
Introduced UPI QR Based Cash Withdrawal, India’s first UPI QR-Based Cash Withdrawal/Deposit Feature on ATMs powered by our Company’s technology, enabling touchless transaction