Novustech Transact invests Rs 1.5 bn on ATMS, POSS machines | Daily News

Novustech Transact invests Rs 1.5 bn on ATMS, POSS machines

Novustech Transact Lanka (Pvt) Ltd have invested over Rs. 1.5 billion in 2017 and 2018 to install ATMS and wireless POSS machines in Sri Lanka.

Senior Vice President Directors, Lahan Gajasinghaarachchi, said that their first major project was the Peoples Bank’s Self Banking Centers (SSB Unit) that were created all over the country.

“This project a mini banking unit with tells that have the ability to deposit and disperse cash, paying utility bills and other services were included in an unit which operates 24 hours a day. We have completed over 100 SSB Units for the People bank and more would be created in 2018.” Novus SL have also made an investment of USD 7 million for Novus Transact Platform hosted at Dialog data center and the installed these self-service machines. In addition to SSB Unit additional 400+ ATMs, CDMs & Kiosk.

“Our command center too operates from world trade center office providing 24x7 call center, monitoring and reconciliation services. Since banks are unwilling to invest on acquiring infrastructure Novus business model of charging customers on monthly basis for only for the services obtained from them is gaining in popularity. Under our project Banks don’t have to invest in ATM machines and other expensive hardware.”

He said that bank surveys have indicated that most of the customers come to the banks to pay utility bails and banks prefer to see these bill paid online and through ATM’s. “Due to this this number of acceptance points for ATMs/POS not up to the demand.”

Our targets for 2018 are an additional 1,000+ self-service machines connected to Novus Transact Switch. We also want to create a country wide acquiring infrastructure encouraging more cards to be issued and more transactions to be processed in urban and rural parts.’

“In addition to ongoing banking projects we also handle the Online payment platform for LankaClear (live from 2017) terminals currently are connected to Novus Transact switch.”

Novus Technologies Pte Ltd is a company incorporated in Singapore in 2013 providing digital banking solutions, mobile payment solutions and Self-Service/POS Outsourcing services with focus on the APAC region.

The company is formed by professionals who spent their career working for world-class IT solution providers focusing on Asia Pacific region.


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