Multibagger Fintech Stock Rockets Over 6 Per Cent As The Company Boosts ATM Security for 26,000+ Machines with GMV’s Enhanced Solutions
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 57.90 per share.
AGS Transact Technologies, a leading provider of payment solutions in India, has announced the implementation of enhanced security measures across its 26,000+ ATMs. The company has adopted the latest security upgrades from GMV, a global leader in advanced technology solutions. This move aligns with AGS Transact’s commitment to regulatory guidelines and ensures the security and innovation of its payment solutions.
GMV’s solutions address the challenges in the financial sector, and AGS Transact has integrated several new features to enhance ATM security and operational efficiency. These features include whitelisting of ATM processes, ACL merger tool, hard disk encryption, gateway and server log harvesting, support for M.2 disks, and support for SQL Server 2022 Database. The initial partnership with GMV in 2017 has allowed AGS Transact to leverage advanced security solutions to protect its ATM infrastructure. These upgrades are part of the company’s ongoing strategy to remain ahead of potential threats in the digital and payment landscape, ensuring safe and reliable financial transactions for its customers.
Earlier, AGS Transact Technologies won a contract to manage the prepaid card platform for Indian Oil Corporation Limited's 'XtraPower' fuel and fleet management program. This contract is expected to generate approximately Rs 58 crore in revenue for AGS Transact over the next five years. AGS Transact is a leading provider of payment solutions in India, processing 625 million switching transactions in FY24.
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About the Company
Established in 2002, AGS Transact Technologies Limited (BSE: 543451 | NSE: AGSTRA), is a leading provider of omnichannel payment solutions in India. Offering a comprehensive range of digital and cash-based solutions, AGS Transact caters to both banks and corporate clients. Their product portfolio includes ATM and CRM outsourcing, cash management, merchant solutions, transaction processing, and mobile wallets. Operating across three main business segments – Payment Solutions, Banking Automation Solutions, and Other Automation Solutions – AGS Transact has established a strong presence in various industries, including banking, retail, petroleum, toll and transit, cash management, and fintech. With a vast network of 2,48,834 payment terminals as of June 30, 2024, and a significant share in petroleum retail outlet deployments, AGS Transact continues to be a dominant player in the Indian payment landscape.
Share Performance
On Monday, shares of AGS Transact Technologies Ltd gained 6.60 per cent to an intraday high of Rs 118.40 per share from its previous closing of Rs 111.05 per share. The stock’s 52-week high is Rs 126.70 and its 52-week low is Rs 57.90 on BSE. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 57.90 per share.
Disclaimer: The article is for informational purposes only and not investment advice.
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