Bank Customers can experience end-to-end contactless cash withdrawal using the mobile application

MUMBAI, JUNE 8, 2020 (GPN): AGS Transact Technologies Limited (AGSTTL), one of India’s leading providers of end-to-end cash and digital payment solutions & automation technology has successfully developed & tested ‘Touchless’ ATM solution in light of COVID-19. ATM cardholders can now withdraw cash from an ATM by scanning a QR code on the machine’s screen without having to touch the surface. AGSTTL is currently providing demo of this solution to the interested banks.

This contactless solution by AGSTTL enables a bank customer to perform all the steps required to withdraw cash from an ATM using the mobile application itself. The customer simply has to scan the QR code displayed on the ATM screen and follow the directions on their respective bank’s mobile application. This includes entering the amount and mPIN required to dispense the cash from the ATM machine. The QR code feature makes cash withdrawals quicker & more secure, and negates the chances of compromising the ATM Pin or card skimming.

Mr. Ravi B. Goyal, Chairman and MD, AGS Transact Technologies Limited said, “In the wake of the global pandemic, we have been working towards providing customers with a more streamlined and simplified user experience. India continues to have a strong base for cash transactions while QR code & BHIM UPI remain a popular choice for making digital payments. Our new Touchless ATM solution is an extension of the flagship QR Cash solution which ensures safety of the users and will provide a seamless cash withdrawal experience with enhanced security. With minimum investment, the banks can enable this solution for their ATM networks by upgrading the existing software. We are confident that this solution will resonate with Banks & customers alike.”

Mr. Mahesh Patel, President & Group Chief Technology Officer, AGS Transact Technologies Limited said, “The seamless, cardless and touchless withdrawal method is designed to provide easy transaction flow, without the need to touch the ATM screen or enter the pin. It will help in minimising apprehension and reinstate customer confidence in using ATMs in the current scenario. Additionally, the solution will further ATM transactions whilst also enabling banks to access consumer data in order to offer customised solutions.”

AGSTTL has installed, maintained and managed a network of approximately 72,000+ ATMs across the country and also provides customised solutions to leading banks in India.  The company had earlier introduced UPI-QR based Cash withdrawal solution in partnership with Bank of India. During the lockdown period, AGSTTL with its partner banks has been providing critical services like sustenance of ATM operations, cash replenishment services and various back-end operations which enable digital & merchant solutions. AGSTTL also initiated mobile ATMs in partnership with leading Banks in more than 20 cities & towns to provide added convenience to the public.

How it works –

Step 1: Open the Bank mobile application on your smartphone and select QR Cash Withdrawal

Step 2: Enter the amount you wish to withdraw on the mobile app

Step 3: Scan the QR code on the ATM screen

Step 4: Confirm the amount by clicking on ‘proceed’ in the app

Step 5: Enter the mPin no. to authenticate the transaction

Step 6: Collect the Cash & Receipt. ENDS

About AGS Transact Technologies Limited

Established in 2002, AGS Transact Technologies Limited (AGSTTL) is one of India’s leading providers of end-to-end cash and digital payment solutions offering a wide spectrum of highly customised products for the Banking, Retail, Petroleum and Toll & Transit sectors. With over 3,60,000 customer touchpoints pan India, AGSTTL’s operations span across 2,200 cities and towns. The company has an impressive presence in Southeast Asian and other countries namely Singapore, Cambodia, Indonesia, the Philippines and Sri Lanka

Pioneering the Fintech space, AGSTTL’s business segments have been divided into three business verticals: Payment solutions, Banking Automation Solutions, and Other Automation Solutions for the retail, petroleum and colour sectors.

Our subsidiaries include Securevalue India Limited (SVIL) focused on cash management and vault services and India Transact Services Limited (ITSL), an Omni-channel merchant payment solutions company. With work force of more than 13,000 personnel, round-the-clock call centres and a manufacturing & warehousing facility located in Daman, AGSTTL is committed to provide clear, credible and contemporary solutions to steer how India transacts.