AGS Transact Technologies Limited has announced the implementation and management of the Prepaid Card Platform for IndianOil Corporation Limited’s ‘XtraPower’ fuel and fleet management program.
The contract, valued at approximately Rs 58 crore over five years, involves providing end-to-end services, including application development, IT infrastructure provisioning, and cybersecurity management.
IndianOil’s ‘XtraPower’ program is accepted at over 35,000 fuel outlets across India and handles transactions worth more than Rs 70,000 crore annually. AGS Transact will manage card issuance and provide ongoing maintenance and support, including the implementation of a Security Operations Center (SOC) and a Security Information and Event Management (SIEM) system to enhance cybersecurity.
Ravi B. Goyal, Chairman & MD of AGS Transact Technologies, stated, “We are pleased to collaborate with IndianOil on their ‘XtraPower’ program. This partnership aligns with our goal to advance fleet management solutions and provide secure payment services.”
AGS Transact Technologies delivers digital and cash-based solutions to banks and corporate clients in India, handling substantial transaction volumes through its software and offering comprehensive merchant and issuance services.