AGS Transact Technologies Ltd., an India-based end-to-end payment provider for the banking, retail and petroleum sectors, has announced a strategic alliance with ACI Worldwide, according to a press release.

The alliance will bring ACI Universal Payments capabilities to the Indian market through a comprehensive cloud-based managed services offering that integrates cross-channel payments, fraud prevention and transaction management capabilities, according to the announcement.

"This collaboration uniquely enables AGS and ACI to collectively address a critical need impacting the Indian financial services and retail markets to develop a 'one-stop-shop' platform for payments, fraud and transaction management capabilities," said Ravi Goyal, chairman and managing director of AGS. "Backed by ACI’s global technology lineage, AGS will offer a comprehensive multichannel solution to increasingly capex- and time-to-market-conscious banking and retail companies."

"AGSTTL brings a valuable combination of capabilities, market presence and a unique delivery model to India," said Craig Saks, group president of strategic products at ACI Worldwide. "Its set of outsourced services for payments, fraud and transaction management presents a compelling offering in this important market. Using a hosted model, provided by a trusted and well respected partner such as AGS, customers in India will be able to rapidly deploy relevant solutions across multiple channels — with a dramatically lower total cost of ownership."