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Wincor, AGS mark installation of 50K ATMs, kick off in-market production

Under collaboration agreement announced in September, Wincor will supply system components for AGS to use in the local production of 40,000 systems for the Indian market.

January 29, 2016

AGS Transact Technologies and Wincor Nixdorf have two achievements to celebrate: First, AGS has installed its 50,000th Wincor ATM at an Indian bank; second, the companies have officially launched their new collaboration model.

According to a press release, the partners intend to jointly develop and locally produce an ATM model customized to meet the needs of rural markets. The companies signed a framework agreement for the partnership in September.

Under the agreement, Wincor Nixdorf will supply key system components that will be used to produce 40,000 systems over the next two years. Shipment of the first 1,000 system components signaled the start of local production by AGS.

"In the past 10 years, we have been able to provide all leading banks with best-in-class ATM technology thanks to our strong relationship with AGS in the critically important Indian market," said Wincor CEO and President Eckard Heidloff. "The start of production for the new ATM model marks the beginning of a new chapter for us. Our collaboration lends new momentum to the financial inclusion initiative introduced by the Indian government and facilitates the provision of financial services, particularly in rural areas."

According to the release, RBR has ranked Wincor Nixdorf among the top three ATM vendors in the Indian market with a 23 percent share in 2014. The research firm projects that India will become the world's second-largest ATM market, behind China, by 2020.