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India Transact ties up with Assam Co-op Apex Bank to provide

Press Trust of India  |  Guwahati 

Payment solutions provider India Transact Services on Tuesday said it has tied up with Assam Co-operative Apex Bank for affordable digital payment options to the lender.

The Assam Co-operative Apex Bank signed an exclusive partnership with India Transact Services to provide affordable digital payment solutions to their account holders by way of POS solutions, the Mumbai-based company said in a statement.

"This partnership will help us to deploy cost-effective innovative payment acceptance solutions to bring larger merchant base into the digital payment ecosystem," India Transact Services Head (Digital Business - Retail) Sunil Khosla said.

India Transact has entered into the partnership on a referral model and as a part of this association, the company will be the sole vendor to Assam Co-operative Apex Bank, the statement said.

Apart from the digital payment solutions, India Transact will provide value-added services to the merchant segment, it added.

Commenting on the association, the bank's Managing Director Shashank Shekhar Shastri said, "The collaboration has not only been rewarding for us, but it has truly succeeded in providing seamless services to the bank account holders."

The bank has mobilised deposit resources of more than Rs 3,21,371.46 lakh and has advanced over Rs 1,23,481.39 lakh as per March 31, 2019 for various development activities in Assam.

The Assam Co-operative Apex Bank has a network of 67 branches, six zonal offices and several societies under it across the State providing effective banking products and other related services to the general public of Assam.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 05 2019. 18:20 IST