Fintech Company Secures Approval to Extend Instant ‘Ready-to-Use’ National Common Mobility Card (NCMC) Solution Across All Chennai Metro Stations
Building on its initial success at 13 Chennai metro stations, Ongo Ride continues to resonate positively with commuters.
AGS Transact Technologies Limited, one of the leading providers of integrated omni-channel payment solutions in India, today announced its plans to extend deployment of ‘Ongo Ride’, an instant National Common Mobility Card (NCMC) solution, across 41 Chennai Metro Stations. Compliant with the RBI’s updated guidelines, ‘Ongo Ride’ requires Zero-KYC, for making payments across NCMC enabled transit services.
Building on its initial success at 13 Chennai metro stations, Ongo Ride continues to resonate positively with commuters. Ongo’s NCMC issuance process allows commuters to purchase ready-to-use NCMC cards via unique card dispensers installed at Chennai metro stations. This streamlined process encourages faster adoption of NCMCs across India. Ongo Ride will be available across all additional Chennai metro stations by the end of December 2024. Furthermore, the Company aims to replicate this model across other metro railways in the country.
Commuters can purchase the instant NCMC cards for Rs 100 from these card dispensers in three easy steps: Select Card - Pay via UPI – Collect ready-to-use Ongo NCMC card. Each card comes preloaded with a balance of Rs 50. Commuters can conveniently top up their instant NCMC cards with a maximum fund limit of Rs 2,000 at ticket counters across all Chennai metro stations. Additionally, commuters have the option to upgrade their cards by completing full KYC, enabling them to enjoy all the benefits of an NCMC, including in-store and online payments.
Ongo is a fast-growing omnichannel digital payment platform by AGS Transact Technologies, which offers convenient payment solutions. Launched in 2015, Ongo offers merchant Acquiring and Prepaid Issuance services. Ongo is a non-bank prepaid payment instrument and offers dedicated open-loop prepaid solutions for consumers across segments.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
About the Company
Established in 2002, AGS Transact is one of the largest integrated omni-channel payment solutions providers in India in terms of providing digital and cash-based solutions to banks and corporate clients.
It provides customised products and services comprising ATM and CRM outsourcing, cash management and digital payment solutions including merchant solutions, transaction processing services and mobile wallets. The company operates in three broad business segments, namely, Payment Solutions; Banking Automation Solutions; and Other Automation Solutions.
Disclaimer: The article is for informational purposes only and not investment advice.