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India Transact Services: Facilitating Merchants & MSMEs to Expand Their Footprints through Innovative Transaction Services

India Transact Services: Facilitating Merchants & MSMEs to Expand Their Footprints through Innovative Transaction Services

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Sunil Khosla,EVP - Sales & Marketing

Sunil Khosla

EVP - Sales & Marketing

Just a few months after demonetisation, Indians reverted to using cash as their primary mode of financial transactions indicating co-existence of both Cash & digital modes of payments. As per Boston Consulting Group (BCG), digital payments would be more effective if implemented at MSME level, which contribute around one-third of GDP. With a stark objective of simplifying transaction processes of entire ecosystem & facilitating MSMEs & local players in expanding their potential, India Transact Services, the digital arm of AGS Transact Technologies – India’s leading end-to-end payment solutions company, opens the floodgates of success for MSMEs, thereby reinvigorating the vision of Digital India.

Present in 1100 cities & towns pan India, India Transact Services is one of the leading Omni-channel merchant digital payment solutions company in India that assists merchants and partner banks at every stage of the payments starting from hardware installation, software, merchant acquisition, payment processing, managing risk and transaction-switching to servicing all points – all done in-house. To ensure that as many MSMEs & merchants as possible,
become a part of the ongoing digital India movement, India Transact Services has implemented a unique retail distribution model wherein the retail distributor act as an extension to the existing sales team thereby penetrating into the smaller markets.

"Satiating a merchant’s working capital requirements, India Transact Services provides access to SME Loans offered by its partners that provide digital lending services"

The company has a clear product strategy that offers appropriate products for India (metro & mini-metro players) and Bharat (rural demography), which demands huge infrastructure costs & a big team. The latter, who are just entering the digital arena, are offered a payment acceptance products like Ongo mPoS or Bharat QR based platforms which aids financial inclusion. The former with digital knowledge are offered a totally integrated & customized solution such as the unique SMART PoS designed to accept all popular forms of digital payments including UPI, Aadhar Pay & Bharat QR in addition to the regular debit/credit cards; billing terminals, GST platform, loyalty program & more. Additionally, organizations that already have a billing device can integrate their payments with other services through India Transact Services’ integrated billing terminal service to keep track of their business & payments.

Satiating a merchant's working capital requirements, India Transact Services provides access to SME Loans offered by its partners that provide digital lending services. This allows the qualifying merchants to receive and repay loans digitally
through Ongo PoS terminals. “To empower smaller merchants to compete with e-Commerce giants, we give them a simple loyalty solution with prepaid & reward module for selling their schemes & concepts betters,” says Sunil Khosla, EVP Sales & Marketing, India Transact Services.

Making Transactions Simpler & Faster
India Transact Services offers a range of customized products that include mPOS, GPRS, PSTN & solutions that are Windows compatible and ensure seamless card payment acceptance from all the major credit & debit cards brands. Its SMART PoS device with single terminal comes with features like international card alert & tip transactions feature; while Paytrack, an innovative post-sales merchant app that administers sales related activities and enables merchant engagement with its customers in a very structured manner. Many leading brands like VIBGYOR, Sravana stores, Cosmos Bank and Mars Enterprise have immensely benefited from India Transact services’ innovative solutions.

With a 500 member strong pan India sales team and 300+ bank in its network, India Transact Services is growing like a wildfire at a whopping 200 percent rate and aims to expand to 2000 cities (especially tier-2, 3 & 4 cities) where digital payments are still in nascent stages. Envisioning to become a full-scale digital payment solution company, India Transact Services plans to introduce an AI-based customer engagement module that will route via merchant or MSMEs & will benefit both.