Securing Digital Transactions for Seamless Payment Experience

Securing Digital Transactions for Seamless Payment Experience

“Be the change you want to see in the world”, said Gandhi once. Indians have been yearning for change in some form

“Be the change you want to see in the world”, said Gandhi once. Indians have been yearning for change in some form “Be the change you want to see in the world”, said Gandhi once. Indians have been yearning for change in some form or another since over 200 years. Be it independence, development, leadership or simply lifestyle, the desire to transform and bring about change has never diminished. The power of people has remained at the core of every revolution.

Few years back, demonetisation grabbed the focus of the nation. It shook our routine, disrupted our plans, challenged the status quo and enforced us to adopt new technologies. A sizeable portion of the population did it wholeheartedly with the intention of ‘cleaning up’ the country. This event drastically changed the face of the payment ecosystem.

Slowly, people of the country started moving onto the online platform. Fortunately for us, we are at the cusp of a digital revolution. Today we can choose between e-wallets, swipe machines, online transfers and prepaid systems for daily transacting. Not only is it proving to be more convenient, but also the transparency it brings to the system is bound to have a ripple effect over the years.

AGS Transact Technologies has always believed in the country’s vision of Digital India. In fact most of the offerings from AGS Group are aimed at ‘Digitising’ various sectors like Banking, Retail, Petroleum, and Toll & Transit. Just like every common man in the country, AGS Transact Technologies strives to transform the norm.

Every revolution that takes place is initially faced with two groups of people – one who accepts the change wholeheartedly and the other one who shows a lot of apprehension to even acknowledge the possibility of a positive change.
The conversion is gradual, but that is changing too. According to National Payments Corporation of India (NPCI), in October 2019, UPI transactions crossed 1 billion. That is an astonishing achievement for a country like ours, considering it has always been a cash intensive nation.

Being the pioneer of almost every digital innovation that has taken place in the payments sector, AGS Transact Technologies recently launched UPI QR-based cash withdrawals on ATMs. This is a first of its kind technology to be introduced in India. The idea behind this was to provide consumers with a more secure & faster way of withdrawing/depositing cash. What made it possible was the consumer spirit to look for something better.

Because of secure offerings like these, the reluctance in people has gone down drastically. They have realised how convenient and transparent digital transactions have become. With increasing number of customers opting for digital payments, the retailers and merchants are warming up to the idea of transacting sans cash. Recently, we crossed a cumulative number of 5 lakh ONGO cards from our merchants (Prepaid/Reward-based loyalty program). This is a testimony of how extensively the market has digitalised.

However, a marginal segment of merchants and retailers are still resistant and content in dealing the traditional way of cash. But for overall development of the nation, we need to bring everyone onto the digital platform. As citizens and consumers driving the economy, we can play the role of ‘change-makers’ in this revolution. By demanding alternate and multiple modes of payment, we can set about a domino effect. From paying vegetable vendors on the streets to buying real estate, digital transacting can be the answer to the menace of corruption and an inefficient system that we have been fighting for way too long.
So the next time you are requested only cash payment at a retail store, ask them to go digital and be the change you want to see.

Leave a Reply

Your email address will not be published. Required fields are marked *