Products

Real-Time Payments Solution from RS – Enabling the ecosystem

Payment landscape is undergoing a significant change to meet the demands of payment in a world operating on 24x7x365 basis. Real-time payment or instant payment is the need of the hour and many countries are now embracing real-time payment, making it the new normal. Real-time payment or instant payment allows for the immediate transfer of money from one account to another round the clock with certainty, convenience and low cost. It creates a world of friction-less commerce and enables a financial world where payment is seamless and immediate. A digital overlay service layer on top of real-time payment switch fosters innovation and realization of the real-time payment use cases.

RS RTPS™ - A Central Infrastructure for faster payments

RS-RTPS ™ is an advanced, state-of-art, real-time payment processing platform that is capable of processing instant account-based payments with very high throughput and high volume. It is designed to enable instant payment for retail and corporate customers, merchants and governments in country.

RS RTPS™ is built based on micro-service architecture and ensures 24x7 availability, 99.999% reliability, horizontal and linear scalability, 3000+ TPS throughput and end-to-end security. The platform can be implemented in multiple data centers in Active-Active mode or Active-Passive mode ensuring near zero RTO and RPO. The platform supports end-to-end encryption using RSA 2048 bit encryption methodology. The technology stack is chosen carefully to ensure that there is no stringent license binding on the owner and total cost of ownership [TCO] remains significantly low.

RS RTPS™ is designed with “mobile-first” strategy that supports ISO 20022 protocol and ensures seamless integration with mobile with both payment APIs and meta-APIs that enable authentication, payment and notification functionalities. The platform is future-ready to meet demand of future expansion and integration with other platforms or components as and when required.
Key Functions and Features:

  • Supports both Push Payment [Direct payment] and Pull Payment [Request for Pay] for P2P, P2M, B2B payments between two accounts [real or virtual].
  • Supports both Pre-funded settlement and Net-deferred settlement; with Net Debit Cap and real time Liquidity Monitoring. Configurable limits.
  • Data rich ISO20022 compliant system. Also supports ISO8583 and native format
  • Smart addressing and payment alias with multiple form factor like mobile, email, national-id etc.
  • End-to-end security with 2048 bit encryption methodology
  • Fraud and risk management
  • API-first, mobile-first system with payment APIs and meta-APIs enabling seamless integration and fostering innovation
  • 24x7x365 availability with appropriate alerts and instant notifications.


  • RS RTPS™ - DOSL: A Digital Overlay Service Layer for Central Infrastructure of faster payments

    RS-RTPS™ - DOSL is an advanced, API-based digital layer which can integrate seamlessly with underlying instant payment or faster payment switch. This will modernize the earlier generation of faster or instant payment system, with an API based digital façade that provides payment APIs and meta-APIs for banks and fintechs to connect. It supports ISO20022, ISO 8583 and other native protocols and enables a mobile-based payment. It supports smart addressing and different use cases of instant payment like instant bill payment.

    Key Features:

  • It is Mobile-first, API-first digital overlay service layer for central infrastructure
  • Seamless integration with underlying immediate payment systems using customized message protocols
  • System is ISO 20022 compliant. ISO 8583 and native format message adapters are built-in
  • Provides “Smart Addressing” with payment alias like phone, email, national-id etc.
  • Provides User onboarding and Management
  • Portals and monitoring dashboard with scheme specific rules and configurations
  • Provides Reports and analytics
  • Available 24x7x365 with end-to-end security

     

  • RS RTP-Connect™ for Banks

    RS Software provides the RS RTP-Connect™ solution for banks to connect to a Real-time payment / Faster payment scheme [Central Infrastructure]. RS RTP-Connect™ provides a Digital Overlay Service Layer for banks and enables API based integration with all digital channels like Mobile banking, Internet banking, Mobile Apps. This Digital Overlay Service Layer provides Real-time Payment APIs and Open Banking APIs for the Fintechs. At the backend, RS RTP-Connect integrates with bank’s core banking System [CBS] and other banking systems like FRM, ERP, CRM, Treasury etc. All form factors and most alternative payment methods involved in digital payments like QR codes are supported, whether the connected device originating the transaction is a mobile phone [app], internet banking, kiosk banking, mobile banking, digital wallets, e-money applications, or any other emerging FinTech.

    Key Features:

  • Mobile-first, API-first digital payment hub for banks
  • Connects with central Real-time payment rail / scheme
  • ISO 20022 compliant system
  • Supports external API and ISO based integration like SWIFT GPi and ACH
  • Seamless integration with bank’s internal systems – CBS, ERP, CRM, Treasury
  • Integration with bank’s digital channels – Mobile banking, Net banking, Kiosk Banking
  • Provide Open Banking APIs and Open Payment APIs for fintechs
  • Smart addressing with payment alias
  • Configurable processing and system rules
  • Fraud and risk management
  • Portals and dashboard
  • Reports and analytics
  •  

    RS BillAbhi™ (Central)

    It is a central infrastructure for Bill Presentment and Bill Payment targeted for nations and processors. Built with API-first architecture principles, it orchestrates the presentment across banks and bill aggregators for Consumers and Billers. Key features include:

  • Bill Presentment
  • Bill Payment
  • Standing Instruction
  • Auto Reconciliation
  • Clearing and Settlement
  • Chargeback
  • Complain and Dispute Management

  • RS Software developed Bharat Bill Payment System (BBPS), the central bill presentment payment solution for India, which is today transacting at 10 million payment transactions per month valued at $200 million.


    RS BillAbhi™ (Banks)

    It is a middleware solution that connects banks to Bharat Bill Pay System (BBPS), a national bill presentment and payment infrastructure. It is built with API-first, Mobile-first architecture principles. RS BillAbhi™ (Banks) enable banks to operate as Customer operating units or Biller operating units or both. RS BillAbhi™ (Banks) enables customers to pay their bills through multiple channels: integrated app on mobile banking and internet banking, through agents, business correspondent (BC) outlets and bank branch/online modes. Key features include:

    For Customer operating unit:

  • Bill Presentment (Registered and Unregistered)
  • Bill Payment (Quick Pay, Adhoc pay and Standing Instruction)
  • Favorite Biller Registration for Auto Bill fetch
  • Auto- Reconciliations
  • Complaints & Dispute
  • For Biller operating unit
  • Biller Onboarding, Configuration and Registration
  • On-Us Transactions
  • Complaint and Dispute
  • Clearing & Settlement
  • Provides APIs for
  • Developing bill payment apps by banks
  • Integrating mobile banking app with bill payment
  • Integrating bill payment with internet banking
  • Integrating Fintech and aggregator

  • RS BillAbhi™ (Banks) is implemented at top 10 banks in India, both national (PSU) banks and private banks, including State Bank of India (236th among Fortune 500), ICICI, PNB, Canara Bank, IDBI and some of the tech savvy banks like RBL, SIB and others. It also connects Fintechs like Swiggy (app based food delivery service) and OLA (app based cab service).


    RS IntelliEdge™ (Central)

    It is an in-flight risk assessment solution for all payments channel and fund sources – covering cards, accounts and alternate payment methods (APM). Key features include:

  • Multi-tenant, SaaS based solution
  • API based access for transaction scoring
  • Support for multiple data formats ISO 8583 and XLM
  • Channels and message specification covered spans ATM, POS, ECOM, biometric payments, ACH, immediate payments, faster payments, check payments, etc.
  • Rule Management system with user-friendly rule-editor, rule-verification against sandbox, rule maker-checker and rule promotion to production
  • Supports federated business architecture: rules can be provisioned at global level which can have bank level overrides plus banks can develop custom rules
  • Provides Case Management with access to central users as well as bank users
  • Supports AI/ML models for efficiencies
  • Enables tracing of fund movement across accounts to support AML
  • Enables tracing of reported frauds to point of purchase to detect common point of purchase (CPP) to issue possible compromise reports to consumers

  • First SaaS implementation of RS IntelliEdge™ (Central) is the Enterprise Fraud and Risk Management (EFRM) solution for NPCI serving the national payments pan-India, addressing all 18 channels which is operating with response time < 200 milliseconds running @ 2000 TPS. It supports major channels: POS, ATM, E-Comm, UPI, IMPS, AEPS, CTS, NACH, Toll Collection [NETC]. It covers key payments instruments such as Cards, Accounts, VPA, Checks, Biometric


    RS IntelliEdge™ (Banks)

    Today banks either own payment solution in-house or commonly outsource it through payment service providers. This creates silo view of the payment across various channels for the same customer and hence collective intelligence cannot be harnessed. RS IntelliEdge™ (Banks) is designed to solve this problem by preserving what it banks have today but creates a common infrastructure to harness unified perspective.

    This is an in-flight risk assessment solution for all payments channel and fund sources – covering cards, accounts and alternate payment methods (APM). Key features include:

  • Multi-tenant, SaaS based solution to support banks and branches
  • API based access for transaction scoring
  • Support for multiple data formats ISO 8583 and XLM
  • Channels and message specification covered spans ATM, POS, ECOM, biometric payments, ACH, immediate payments, faster payments, check payments, etc.
  • Rule Management system with user-friendly rule-editor, rule-verification against sandbox, rule maker-checker and rule promotion to production
  • Supports federated business architecture: rules can be provisioned at global level which can have bank level overrides plus banks can develop custom rules
  • Provides Case Management with access to central bank users as well as branch users
  • Supports AI/ML models for efficiencies
  • Enables fund movement tracing across accounts to support AML
  • Enables tracing of reported frauds to point of purchase to detect common point of purchase (CPP) to issue possible compromise reports to consumers

  • RS iFinSwitch™

    RS iFinSwitch™ is a modern, API based digital switch for front-end acquiring. It has a multitude of features which include:

  • Rule-based transaction orchestration
  • Workflow management
  • Routing
  • Unlimited formats using adapters
  • Time-out processing
  • Assured transaction response
  • Encryption management
  • Logging and audit trails

  • It can support both card-present and card-not-present payment methods. The multi-purpose platform is built using a modular microservice-based architecture that can be used as a payment gateway, a front-end processor or a fully functional processing platform. Its API-first design ensures it can communicate with the most modern devices using API based calls.


    RS MerchantEdge™

    RS MerchantEdge™ is a comprehensive digital platform that streamlines merchant interactions with ISOs and PSPs, resulting in a dramatic reduction in the time taken by acquirers to originate and fulfill their merchants’ needs. It provides a complete system of record for merchant management and can be easily integrated with any sales or Customer Relationship Management system to manage the end-to-end merchant lifecycle. Features include:

  • Lead generation
  • Collection and validation of merchant data
  • Processor on-boarding
  • Underwriting
  • Digital contract signing
  • Equipment management
  • Terminal downloads
  • ISO boarding
  • Agent management hierarchy
  • Residual payment management
  • Payment initiation through a virtual terminal
  • Billing & settlement
  • Chargeback workflow
  • Data analytics

  • It includes a Merchant Portal that acquirers can use to help their merchants monitor their business via a user-friendly dashboard. RS MerchantEdge™ is fully validated by the PCI Security Standards Council, conforming to PA-DSS v3.2 requirements.


    RS Test2Pay™ (3DS2)

    RS Test2Pay™ (3DS2) is a unique 3DS 2.0 test simulator platform based on the newest EMVCo standard. Our scalable architecture is unique since it delivers an authentication sandbox to encourage collaboration and innovation for authentication use cases. It is a cloud-hosted, web-based platform built on a multi-tenant model to support multiple users simultaneously. RS Test2Pay™ also supports end-to-end testing for 3DS 2.1, in compliance with the EMVCo guidelines. The platform simulates, tests and automates testing across the entire payments ecosystem: Different components include the Access Control Server (ACS), Directory Server (DS), 3DS requestor, and 3DS client using a service virtualization technique.. Architected to support a high volume of transactions it can drive large batches of transactions to test any system’s throughput. Configuration and automation of testing and test cases is business friendly to reduce dependency on limited IT and testing resources. The platform is extensible so that any ISO or API based message format can be tested.


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