India Transact Services Partners Vaishya Nagari Sahkari Bank, Parbhani, Maharashtra To Empower Its Merchants With Integrated Digital Payment Solutions

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Mumbai, January 7, 2019: India Transact Services Limited, an Omni-channel merchant digital payment solutions company and a subsidiary of AGS Transact Technologies Limited has partnered with Vaishya Bank in Parbhani, Maharashtra to offer a suite of integrated digital payment solutions to its merchant base of 3500.

According to this partnership, India Transact Servicesis the exclusive digital payment partner for the bank, offering PoS & non PoS solutions to its merchants. Its suite of integrated digital payment solutions includes multi-acceptance payment platforms like Ongo QR ++ app which supports Bharat QR & UPI and Smart PoSdevice which accepts various digital payments including UPI in addition to cards; and supports value-add services like Loyalty programs for merchants.

Commenting on the partnership, Sunil Khosla, Head Digital Business – Retail, India Transact Services, said, “We are happy to become the exclusive digital payments partner for Vaishya Bank in Parbhani. We provide merchant acquiring services to leading banks including Cooperative banks across the country. This is our first step towards offering a complete suite of digital solutions which includes Smart PoS and merchant-run loyalty programs along with other digital payment solutions directly to the bank’s 3500 strong merchant base. We will be working closely with the bank to customize payment solutions that will help them to reduce their NPAs in the near future.”

Vaishya Bank currently has a merchant base of approximately 500 PoS terminals and 300 Bharat QR terminals in Parbhani.

Devidas K Deshpande, CEO, Vaishya Nagari Sahkari Bank, Parbhani said: “With this partnership we aim to digitally empower our merchant base and provide them a secured payment infrastructure to transact. India Transact Services has a proven track record of offering unique digital solutions that greatly benefits the merchants especially MSMSEs by helping them increase their business efficiency. We are confident that this partnership will not only help us retain our merchant base but increase it manifold.”