Business Update12 Sept 2024, 01:06 am
AGS Transact Technologies Wins INR 58 Crore Contract for IndianOil’s XtraPower Fuel & Fleet Management Program
AI Summary
AGS Transact Technologies Limited, a leading provider of integrated omni-channel payment solutions in India, has implemented and commenced managing the Prepaid Card Platform for IndianOil’s flagship XtraPower fuel and fleet management program. The five-year contract, worth INR 58 crore, includes developing and hosting the application, providing application maintenance support, managing backend operations, and implementing a security operations center and a security information and event management system. AGS Transact will also manage card issuance for the XtraPower program. The XtraPower program is accepted at over 25,000 IOCL fuel retail outlets in India and processes transactions worth over INR 60,000 crore annually.
Key Highlights
- AGS Transact Technologies wins INR 58 crore contract for IndianOil’s XtraPower fuel & fleet management program.
- The contract includes developing and hosting the application, providing application maintenance support, managing backend operations, and implementing a security operations center and a security information and event management system.
- AGS Transact will also manage card issuance for the XtraPower program.
- IndianOil’s XtraPower is accepted at 25,000+ IOCL fuel retail outlets in India and processes fuelling transactions worth more than INR 60,000 crore annually.
- This collaboration reinforces AGS Transact’s commitment to delivering innovative, secure payment solutions.