Accredited to Mr. Ravi Goyal, Chairman and Managing Director, AGS Transact Technologies Limited
“Last quarter has seen some progressive banking reforms with demonetisation being a landmark development ushering positive change for the FinTech and Banking Payments Services industry. For the first time, it brought to the fore the importance of ATM infrastructure and its critical role in a cash intensive economy like ours. With the introduction of Aadhaar Enabled Payment System (AEPS), we anticipate infrastructural changes in the ATM sector enabling safer and faster transactions to meet the growing demand in Rural and Semi-urban (RUSU) areas. While the Government’s efforts have been laudable, as an aftermath of this ambitious drive, all ATM providers look forward to appropriate measures which will give some relief.
As a leading end-to-end payment solutions provider, we completely support the government’s drive for encouraging alternate mode of payments through digital means and platforms. For the upcoming Union Budget 2017, we are hopeful for pro-growth policies and incentives which give impetus to cash and digital payments alike. Additionally, measures like increasing free transactions on cash withdrawals post liquidity in the economy and subsidies on interest rates for the ATM industry will go a long way boosting this segment, after all it is a far more cost-efficient method for banks than having the brick-and-mortar branches.”
