AGS Transact Technologies Ltd to commence Pilot-testing of Open-loop Contactless Fuel Payment Solution on its Ongo app at select fuel retail outlets in Mumbai

AGS Transact Technologies Limited (the "Company") (BSE: 543451 & NSE: AGSTRA) today announced that it will commence with pilot testing of a contactless fuel payment solution on the Ongo app at select fuel retail outlets of one of the leading OMCs (Oil Marketing Companies) in Mumbai. Offered on an open-loop platform, this cardless & contactless solution aims to provide consumers an enhanced digital experience at any fuel retail outlet in India. Ongo app users will be able to pre-set the desired fuel amount and enjoy a more-convenient fuel-filling and fuel payment experience via the Ongo open-loop wallet or virtual prepaid card.

Additionally, consumers can use the Ongo app for making non-fueling purchases at any RuPay acceptance point.

Ongo is AGS Transact Technologies' digital payment platform which aims to provide its users convenience by offering payments on-the-go. In due course of time, the Ongo app will also enable NCMC feature offering a seamless mobility experience.

The aim of the pilot testing is to evaluate the operational performance of the Ongo open-loop solution for fuel payments while analysing any deployment challenges.

Shares of AGS Transact Technologies Ltd was last trading in BSE at Rs. 111.34 as compared to the previous close of Rs. 107.73. The total number of shares traded during the day was 220937 in over 2584 trades.

The stock hit an intraday high of Rs. 112.88 and intraday low of 104.38. The net turnover during the day was Rs. 23979104.00.

Source : Equity Bulls

Keywords

AGSTransactTechnologies PilotTesting OpneLoop Contactless FuelPaymentSolution