GRG International
GRG International (ASX: GRG) is in partnership with GRG Banking of Guangzhou, the largest ATM manufacturer in China. The company uses GRG Banking’s resources to design, develop, manufacture and sell ATMs, ATM management software and spare parts without the associated overheads.
GRG International to secure its largest contract for rollout of new electronic welfare system in India
Wednesday, February 22, 2012 by Angela Kean
GRG International (ASX: GRG) has signed a memorandum of understanding with Madhya Pradesh Consultancy Organisation to install and operate a new electronic welfare system in the Indian state of Madhya Pradesh.
The deal represents GRG’s largest contract to date, which the company is aiming to finalise in the June quarter.
The electronic welfare system will include issuing 4 million electronic cards, installing and maintaining up to 5,000 automatic teller machines (ATMs) and 25,000 point of sale machines, as well as running a transaction switch.
GRG will assist in developing the systems, supplying the electronic cards, and installing and maintaining the ATMs and cash machines.
Similar rollouts have also been agreed to for other regions of India, including Bihar, Jharkhand and Chhattisgarh.
Increasing Global Reach
Late last year GRG expanded its global footprint to India with the acquisition of GRG Banking Solutions Private and GRG International Private.
The two companies were licensed by GRG to distribute products and services in India and prior to the acquisition the company had no ownership interest in the two entities.
The acquisitions give GRG a physical presence in India with staff and head offices in New Delhi.
It also allows for a sales ramp up throughout India providing GRG with access to more than 25 customer relationships that are in multiple stages of development, including 21 national banks that are evaluating GRG products for rollout in India.
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