India’s TCS launches real-time payment solution in multiple markets

Launching
Mumbai, Sept. 23, 2019 (Xinhua/NAN) India’s software major, Tata Consultancy Services (TCS), on Monday launched its real-time payment solution in multiple markets to facilitate customers in their digital transformation journey, according to the company statement.

“With this solution, financial institutions can offer instant payments in their home countries as well in international markets.

“The solution is API (Application Programming Interface) enabled for the open banking environment and its modern technology stack can integrate payments from several platforms, increasing efficiency and eliminating friction in the process.

“The industry is witnessing a broader trend toward hyper connectivity, which places huge emphasis on value creation by tapping into new ecosystems,“ the statement said.

The Head of TCS, Venkateshwaran Srinivasan, said Financial Solutions, a strategic business unit of TCS, focused on financial institutions that operates across 46 countries and holds the second position on Indian bourses by market capitalisation.

In 2018-19, out of the TCS total revenue of 20.6 billion U.S. dollars, this strategic business unit generated annual revenue of 8.2 billion U.S. dollars, up 19.7 per cent over the previous year.

According to the statement, the solutions will go a long way in assisting customers in leveraging new ecosystems, become more agile, fuel innovation and pursue new business models.

“The solutions will also succeed in a Business 4.0 world, popularly termed as the fourth industrial revolution,“ it said.(dpa/NAN)

YI/ABI
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Edited by Yahaya Isah