The launch is in alignment with the Reserve Bank of India’s directive to facilitate a more convenient and seamless experience for Indian commuters
Bengaluru, October 21, 2024: AGS Transact Technologies Limited (BSE: 543451 & NSE: AGSTRA), one of India’s leading integrated omnichannel payments providers, today announced that it has commenced issuance of zero-KYC National Common Mobility Card (NCMC) for Bengaluru Metro Rail Corporation, in partnership with RBL Bank. This will allow faster issuance of NCMC to the users as the card can be activated without the need for full KYC process. Commuters can top-up the zero-KYC NCMC with a maximum INR 2,000 and use at all travel only touch points such as Metro, Bus, Water metro, Parking & Toll.
AGS Transact has been issuing NCMC at Bengaluru Metro Rail Corporation in partnership with RBL Bank since March 2023. As of today, the company has issued 57,000+ NCMCs for BMRCL.
The launch of zero-KYC NCMC is in line with the Government of India’s vision of One Card One Nation, as a key initiative that will shape the future of mobility. While current closed-loop transit cards are used for specific metro or bus services in India, NCMCs are accepted at all NCMC-enabled locations throughout the country. AGS Transact Technologies’ zero-KYC NCMC eliminates the hassle of KYC verification, offering a faster, more convenient and seamless unified payment solution across diverse transportation modes.
Mr. Ravi B Goyal, Chairman & MD, AGS Transact Technologies Ltd., said, “We are committed to playing a significant role in driving payments-as-a-convenience for our customers across sectors. We are thrilled to be supporting BMRCL in their initiative to provide hassle free and seamless commute experience. Since we first launched the NCMC in Bengaluru, we have seen tremendous commuter enthusiasm for the card due to its simple usage process and easy top-ups. We are confident that the zero-KYC NCMC, with its faster issuance, will resonate strongly with commuters, thereby increasing NCMC adoption.’’
Commuters can conveniently purchase and top up AGS Transact Technologies issued zero-KYC NCMCs from ticket counters at Bengaluru Metro stations.
About AGS Transact Technologies Limited (AGSTTL)
Established in 2002, AGS Transact Technologies Limited (BSE: 543451| NSE: AGSTRA) 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. AGS Transact 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.
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.
AGS Transact Technologies serves diverse industries such as banking, retail, petroleum, toll and transit, cash management and fintech in India and other select countries in Asia. As of June 30, 2024, the company has deployed 2,48,834 payment terminals and was one of the largest deployers of PoS terminals at petroleum retail outlets in India, having rolled out 41,777 terminals at various petroleum retail outlets. For more information, please visit www.agsindia.com
