New Delhi, January19, 2016: Leading Indian provider of payment solutions, AGS Transact Technologies has developed a range ofATMs tailored to the requirements of remote rural areas.This has been done in collaboration with Wincor Nixdorf under a manufacturing agreement.
These ATMs will be manufactured in India with a sizeable part of the value-creation process being provided by AGS. The manufacturing facility is currently being established in Daman (Union Territory of India).The locally manufactured machines will facilitate a stronger payments infrastructure in smaller towns and cities of the country, thereby making both AGS and Wincor Nixdorf important contributors to the financial inclusion initiative launched by the Indian government in recent times.
Says Ravi B Goyal, Chairman and Managing Director of AGS Transact Technologies: “With India lagging far behind in terms of ATMs per million population, the government’s financial inclusion initiative, entry of new players in the banking sector and White Label ATM deployments will drive ATM growth in India. The total ATM installed base in India is projected to double from approx. 200,000 ATMs to over 450,000 ATMs by 2019.”
Adds Eckard Heidloff, CEO & President of Wincor Nixdorf : “The agreement concluded between our companies will help to strengthen our competitive position in the rapidly growing Indian market for ATMs. We have thus created a solid foundation for Wincor Nixdorf to operate at a more profitable level in India than in the past and further expand the good market position we have already created for ourselves.