Post budget comment attributed to: Ravi B Goyal, Chairman & Managing Director, AGS Transact Technologies Limited“As India’s leading end-to-end payment solutions provider, we appreciate the government’s agenda to push ‘ease of living’ since it will simplify lives through technological innovation thereby spurring automation.
With the government recognizing the immense potential of MSMEs and trying to nurture a financial ecosystem for them to grow, Fintech companies will play a critical role in financing space for MSMEs. Online loan approvals for MSMEs will enable higher MSME financing and reduce the cash crunch faced by them.
As anticipated, digitisation is the foremost agenda this year as well. With the allocation to Digital India scheme being doubled up to Rs 3073 crore, financial inclusion will receive the much needed impetus. The announcement to allocate Rs 10,000 crore for creating of 5 lakh WiFi HotSpots to provide broadband access to 5 crore rural citizens will ensure Digital India initiative penetrates deeper into the remote areas. Overall, these initiatives will definitely enable the booming FinTech and Banking Payments Services industry to further enhance this growth.
Additionally, the Government’s plans to come out with a policy to introduce toll system on ‘‘pay as you use’’ basis along with the system of cash toll payments being replaced with Fastags and other electronic payment systems will make road travel experience effective and seamless.”
About Ravi Goyal
Ravi started his professional journey in 1992, and today is an undisputed entrepreneur, with effective management skills. He discovered a niche business opportunity and established a proprietary concern in the name of Advanced Graphic Systems in 1992 for marketing computer-aided textile designing software for Computer Design Inc, USA. In 2002, Ravi established AGSTTL, which is today India’s only and one of the leading providers of end-to-end payment solutions offering state-of-the-art products and services across Banking, Petroleum, Transit, Retail and Colour sectors. Over the years, Ravi has been instrumental in forging partnerships with global suppliers such as Fast & Fluid Management (Netherlands), Fillion Technologies (France), Postec (New Zealand), Wincor Nixdorf (Germany) & X-Rite (USA), ACI Worldwide etc. to bring the latest technology to its customers across various sectors in India.
About AGS Transact Technologies Ltd
Established in 2002, AGS Transact Technologies Limited (AGSTTL) 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 2, 00,000 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. Its 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 over 8500 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.