Securevalue India deploys 270 cash vans for Union Bank of India, Canara Bank

Securevalue India Ltd. (SVIL), a wholly-owned subsidiary of AGS Transact Technologies Limited, has successfully deployed approximately 270 Dedicated Cash Vans (DCV) for Union Bank of India and Canara Bank. The total order value for this deployment stands at around Rs 250 crore, spanning a contractual period of 5 years. Under the agreement, SVIL will receive a fixed monthly revenue per Dedicated Cash Van, and ongoing contracts will result in additional purchase orders for DCVs from the two banks.

SVIL's DCV service offers secure and dedicated cash vans, complemented by a trained team, ensuring the safe and seamless transportation of cash and other valuables for banks and financial institutions. Shailesh Shetty, Managing Director of Securevalue India Limited, expressed satisfaction with the completion of the DCV deployment, emphasising its significance in the context of SVIL's overall revenue and the consolidated revenue stream of AGS Transact Technologies.

Notably, Securevalue India Ltd. holds the position of being the second-largest Cash Management Company in India, according to Ken Research. As of September 30, 2023, SVIL serviced approximately 40,152 ATMs nationwide, replenishing a daily average amount of around Rs 22.04 billion. The company operates across 1,800 locations through a robust infrastructure of 2,300+ secured cash vans.

About AGS Transact Technologies Limited

Established in 2002, AGS Transact Technologies Limited stands as one of India's leading integrated omni-channel payment solutions providers. The company specialises in delivering digital and cash-based solutions to banks and corporate clients. AGS Transact's diverse range of products and services includes ATM and CRM outsourcing, cash management, digital payment solutions, transaction processing services, and mobile wallets. The company operates across three main business segments: Payment Solutions, Banking Automation Solutions, and Other Automation Solutions.

AGS Transact Technologies caters to various industries such as banking, retail, petroleum, toll and transit, cash management, and fintech in India and select countries in Asia. As of September 30, 2023, the company had deployed 2,46,813 payment terminals and played a significant role in deploying PoS terminals at petroleum retail outlets, numbering 47,910 terminals at various petroleum outlets in India.