AGS Transact Technologies Limited (AGSTTL), India’s only and one of the leading providers of end-to-end payment solutions, recently ventured into the mobility business to foster smart travel and will be responsible for end-to-end management of Automatic Fare Collection (AFC) system for Kochi Metro that is being inaugurated tomorrow. By offering an integrated structure of collection, compilation and computing for AFC system, the company aims to provide an efficient and hassle-free experience to the commuter.
AGSTTL’s AFC system is a critical core component of the Kochi Metro system. It includes complex hardware and software installed at entry points of metro stations. This ticketing system uses a combination of Open Loop Smart Cards, Radio Frequency Identification Devices (RFID) and Quick Response Codes (QR Codes) to collect fares from the users minimising the need for cash transactions. This is the first time such an innovative model is being implemented in the country.
“We are delighted to be the technology partners of the ambitious first-of-its kind Kochi Metro Project. At AGSTTL, we believe that technology solutions such as the futuristic Automatic Fare Collection (AFC) System with Open Loop Smart Cards and QR Code tickets will establish a new benchmark for the transit industry and pave the way for smart travel in India”, said Ravi B Goyal, Chairman & Managing Director, AGS Transact Technologies Limited. “By offering an integrated structure of collection, compilation and computing for AFC system, AGSTTL aims to ensure that the commuter has an efficient and hassle-free experience. Kochi Metro will lay the foundation to how future metro and public transportation projects are designed in our country with AFC being the preferred mode of transacting within the entire transportation structure”, he added.
Kochi Metro Rail Limited (KMRL) had earlier signed a public-private partnership (PPP) pact with Axis Bank for the Automated Fare Collection (AFC) system. The bank has partnered with Asis electronik Ve Bilisim Sistemleri, AS, a Turkish company, for the infrastructure and AGS Transact Technologies Limited for the integration and maintenance in the system.
About AGSTTL Transit Business
Understanding the need for high efficiency solutions in the transit systems AGS Transact Technologies Limited ( AGSTTL) ventured into the transit business in 2016. Through its Automatic Fare Collection (AFC) and Electronic Toll Collection (ETC) offerings, AGSTTL brings together effective models of ticketing, payment and transparency that will lay the foundation for future metro and public transportation projects across the upcoming smart cities in the country.
About AGS Transact Technologies Limited
Established in 1992, AGSTTL transformed into transaction management business in 2002 and today, is one of India’s leading end-to-end payment solutions provider with a wide spectrum of highly customised products instated with state-of-the-art technology for the Banking, Retail, Petroleum and Transit sectors. AGSTTL operates across 700 cities and towns reaching out to over 160,000 customer touch points across India and boasts of an impressive footprint in South East Asia.
Pioneering the change in financial technology space, our three major lines include Banking Automation Solutions, Banking Payment Solutions, Automation Solutions for the Retail, Petroleum and Colour sectors.
Our subsidiaries include Securevalue India Ltd. (SVIL) focused on cash management and vault services, India Transact Services Ltd. (ITSL) offering Omni-channel merchant digital payment solutions and Novus Technologies that offers banking automation and payment solutions in Singapore, Cambodia, the Philippines, Indonesia and Sri Lanka. With close to 8400 employees, round the clock customer service centers and two manufacturing & warehousing units located in Daman and Puducherry, AGSTTL is committed to provide clear, credible and contemporary solutions to steer how India transacts.