AGS Transact Technologies Limited informed exchanges that it has set up and started managing the Prepaid Card Platform for ‘XtraPower’, the fuel and fleet management program of Indian Oil Corporation Limited (IOCL), India’s largest public sector enterprise. AGS Transact will get a fixed charge for these services, which is estimated to generate revenue of approximately INR 58 crore over five years.
In the exchange filing, the company also shared, “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. AGS Transact Technologies’ end-to-end platform & management services include, developing & hosting the Application, provisioning the IT Infrastructure (Hardware & Software); providing Application Maintenance Support & Change Management; Managing Backend Operations; and Implementation of Security Operations Center (SOC) and a Security Information and Event Management (SIEM) system to strengthen the platform’s cybersecurity framework and enhance threat detection capabilities. Furthermore, the company will also manage Card Issuance for IndianOil’s XtraPower program.”
