Enabled through Masterpass & AGS QRCash, Mastercard cardholders can now withdraw cash from ATMs by just scanning a QR code using a smartphone.
Mumbai, 09 February 2021: AGS Transact Technologies (AGSTTL), one of India’s leading providers of end-to-end cash and digital payment solutions & automation technology, has partnered with Mastercard to provide a pan India ‘contactless’ cash withdrawal experience at ATMs. In a first, Mastercard cardholders will be able to withdraw cash by scanning a QR code displayed on the ATM screen of all participating Banks. The partnership aims to provide a more secured banking experience to customers in India.
AGS Transact Technologies will enable this ‘contactless’ QR-based cash withdrawals on all ATMs in its network in a phase-wise manner. Enabled by AGS Transact Technologies, these QR based ATMs powered by ‘Mastercard’ will help users to digitally locate the nearest enabled ATM and withdraw cash by scanning a QR code using their banking app on the mobile phone. It will be a simple 4 steps process at the nearest enabled ATM – Open banking app, Scan QR displayed on ATM screen, authenticate withdrawal amount on banking app by entering mPIN and Pick-up cash from ATM – without the need to insert the physical debit/credit card into the ATM or entering an ATM Pin. This will minimize any physical contact, making it a cleaner withdrawal option vis-à-vis regular cash withdrawals, especially during current times of COVID-19.
Mr. Ravi B Goyal, Chairman & MD, AGS Transact Technologies Limited said, “We are delighted to partner with Mastercard to spearhead customer-centric solutions focusing on contactless payments. We are confident that the QR based cash withdrawal will be a gamechanger towards increasing the adoption of contactless technologies. As a trusted partner in this journey, we have designed customer-friendly solutions to provide seamless transactions, without any breaks in the transaction process in case of multiple cardless withdrawals.”
Commenting on the partnership, Vikas Varma, Chief Operating Officer, South Asia, Mastercard said, “Mastercard is committed to develop safe, secure, and more convenient ways to make payments with its technology and expertise. During these unprecedented times, there is a need for contact free cash withdrawal as people want to maintain a balance between protecting themself and continue to make transactions essential to maintain daily lives. Mastercard is pleased to partner with AGS Transact Technologies to introduce ‘Cardless ATM powered by Mastercard’. Mastercard Cardholders will be able to withdraw cash safely by eliminating the need to use a physical card or touch an ATM PIN pad, while providing the security of an EMV transaction, making it safe, quick and easy for people to access cash.”
The partnership will allow the Mastercard cardholders to access any participating Bank ATM in the country and carry out three transactions without any additional charges making it a scalable option for banks providing a consistent experience to their consumers.
About AGS Transact Technologies Limited (AGSTTL)
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 instated with state-of-the-art technology for the Banking, Retail, Petroleum and Toll & Transit sectors. With over 3,60,000 customer touchpoints pan India, AGSTTL’s operations span over 2,200 cities and towns. The company boasts of an impressive presence in Southeast Asian and other countries.
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. AGSTTL recently expanded its Banking Automation Solutions and Banking Payment Solutions segments to Southeast Asian countries, like Singapore, Cambodia, Indonesia, the Philippines and Sri Lanka with the help of its subsidiaries. With work force of more than 13,000 personnel, round-the-clock call centers and manufacturing & warehousing facility located in Daman, AGSTTL is committed to provide clear, credible and contemporary solutions to steer how India transacts.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
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