The Three Facets of Fighting Against FraudDecember 20, 2019
The fight against fraud for digital payments resides on the 3 vertices – Education, Experience, and Intelligence. Digital payments in India are seeing a CAGR growth of 12.7% * thanks to government push,…Read More
Intensifying M&A in the Payments WorldSeptember 10, 2019
In its efforts to keep pace with the value creation needed to meet rising customer expectations, the payments industry is facing more disruptions than ever before. As new business models pose competitive…Read More
Indian Unified Payments Interface (UPI) leading the world into digital instant paymentsApril 22, 2019
UPI’s transaction volume has crossed the 750 million per month mark as it celebrates its 3rd anniversary, post the launch in April 2016 – a remarkable success indeed. At RS Software, we take a moment to step back to reflect on the journey of us building UPI for Indian government owned NPCI, and enabling India’s banks to connect to its rails. We believe that a faster payments infrastructure is not an end in itself, it is an opportunity for banks to deliver innovative products and services in both consumer and corporate payments, and thereby transforming humanity and accelerating digital commerce. Therefore the focus was relentlessly on design, customer experience, accessibility and convenience.
Major payment networks Visa and Mastercard are committed to the principle of payments anytime, anywhere, and recognize that UPI like systems will shape the digital financial services landscape globally. The quick adoption and the high probability that UPI is now on track to achieve 12 - 15 billion transactions during its fourth year since launch are the best testimony to the strengths of its architecture and design, and most importantly demonstrate scale and innovation at a pace not achieved anywhere else in the world.
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ThreatMetrix and RS Software to Transform Digital Payment Authentication for Financial InstitutionsNovember 27, 2017
ThreatMetrix and RS Software to Transform Digital Payment Authentication for Financial Institutions in India
Partnership Delivers Holistic Risk and Fraud Management to Secure Digital Payments
Kolkata, India –– ThreatMetrix®, The Digital Identity Company® and RS Software (India) Ltd., the leader in building digital payments infrastructure, today announced a new partnership to accelerate the adoption of secure digital payments in India.
The two organizations offer a powerhouse of solutions that span online payments and digital identity. Working together, they will provide a frictionless and secure customer experience, while accelerating revenue for merchants. This partnership will focus on the India market, along with select global opportunities, to deliver holistic risk and fraud management with persona identification and advanced device fingerprinting.
The India market alone is estimated to see more than 20 billion online payment transactions during the next 12 months, and this partnership brings world-class capabilities to secure these growing transactions. The objective is to create robust, secure next-generation merchant-acquiring and payment platforms for Digital India.
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RS Software, Paragon Application Systems Partner to Meet Demand for Next Generation Testing SolutionJanuary 11, 2017
Companies join to deliver solutions that address complexities of payments landscape
HOLLY SPRINGS, N.C., Jan. 11, 2017 – Paragon Application Systems (Paragon), the financial services industry’s leading provider of next generation testing solutions, today announced that it has partnered with RS Software India Limited, a provider of digital payment technology solutions that builds payment infrastructure for countries all across the globe and helps businesses transition from legacy to modern e-payment systems. The alliance addresses the growing demand for testing solutions that provide better automation and more comprehensive code coverage, enabling financial services providers to avoid the hefty cost and risk associated with legacy testing tools.
Paragon provides a suite of testing solutions that automates and virtualizes end-to-end testing of payment systems and ATM networks. These solutions equip organizations to deploy a testing platform that optimizes existing legacy and digital testing assets and frees testing professionals from manual, repetitive tasks. RS Software’s expertise in deploying solutions within high performance, high availability networks will enhance Paragon solutions by adding the knowledge and support required to address specific needs.
“The payments landscape has grown increasingly more complex over the past decade,” said Jim Perry, CEO of Paragon. “A steep increase in the number and variety of endpoints, an expanding number of consumer devices and payment apps, the rising expectation of ‘always-on’ availability and increased levels of regulatory scrutiny have all contributed to that fact. However, the testing methodologies used to ensure that these e-payment systems remain reliable have not kept pace with these changes, creating a glaring discrepancy that we aim to correct. ”
The ongoing cost pressures and accompanying expectation to do more with less have been the primary contributors to the testing challenges financial services providers face. Organizations find themselves addressing more intricate payments testing needs with higher stakes and a leaner workforce. In addition, rapid innovation and competitive pressures in the marketplace are driving the need to deliver new products and services more quickly and with higher quality.
Raj Jain, chairman of RS Software, said, “Testing is critical to all software applications, and even more so for payments that impact consumers’ everyday lives. The majority of payments testing today involves quality assurance staff manually running isolated tests using desktop tools located in physical labs. Because this manual method forces testers to conduct a wide array of tests in an attempt to locate critical errors – something akin to shooting in the dark at times – often only around 20 percent or less of the desired scenarios are actually tested, leaving entirely too much to chance. With our partnership with Paragon, we will strive to increase code coverage and improve the way testing is conducted for organizations across the globe. ”
About RS Software (India):
RS Software India Ltd. is a digital payments focused solution provider to the electronic payments industry, operating in four continents with its US headquarters in Silicon Valley, corporate headquarters in Kolkata, India and offices in the United Kingdom and Singapore. RS Software has been in business for more than twenty-five years providing solutions to leading payments brands around the world including payment networks, processors, acquirers, issuers, and ISOs. RS Software has built solutions for the introduction of new standards such as EMV and emerging payment areas like mobile and contactless payments, while enhancing the ability of its clients to manage their legacy systems. RS Software is now engaged in building country level digital payment infrastructure as well. The domain focus makes RS Software a partner of choice for its customers and an employer of choice for its employees. www.rssoftware.com
Paragon Application Systems is the leading independent provider of simulation, configuration, certification and end-to-end testing solutions for the financial services industry. Paragon’s solutions have enabled more than 600 financial institutions, major interchanges, software providers and payment processors across 90 countries to improve their quality and reduce time to market. The company has a 90+ percent customer retention rate providing software and services that allow organizations to deliver the services their customers need when they need them. Visit www.paragonedge.com for more information, and follow our blog at www.testingrevolution.com/blog.
Click here to download Paragon’s complementary whitepaper outlining seven key capabilities of next generation payments testing solutions to learn more.
The More Things Change, The More They Cannot Stay The Same – Part TwoOctober 28, 2016
As mentioned in our last posting - "The More Things Change, The More They Cannot Stay the Same" - two years ago, Klaus Enzenhaufer, Director of Technology at Dynatrace and formerly at Compuware, wrote…Read More
The More Things Change, The More They Cannot Stay The Same – Part OneOctober 21, 2016
Two years ago, Klaus Enzenhaufer, Director of Technology at Dynatrace and formerly at Compuware, suggested there are five major pitfalls that financial services organizations encounter especially as they…Read More
RS Software Joins Apigee Digital Partner ProgramSeptember 22, 2016
Partnership allows leading payments solution provider to help clients unlock power of APIs for digital engagement
Milpitas, California — September 19, 2016 - RS Software Ltd., the leading vertically integrated technology solution provider to the global digital payments industry, today announced that it has joined Apigee’s Digital Partner Program. Apigee’s leading API management software empowers organizations to securely deliver and manage APIs, with agility and at scale. Apigee’s Digital Partner Program members combine Apigee products with their technology expertise and services to design and implement digital solutions.
“API-driven platforms allow payment providers to accelerate the pace of innovation, excel at their core competencies and partner with other businesses to create value for stakeholders,” said Bibek Das, EVP of business development for RS Software. “This collaboration with Apigee, a leader in providing API management software, will allow us to enable our blue chip payment clients to participate in the digital economy by delivering digital products to expose core capabilities securely and at scale, as they increase collaboration with their customers and vendors.”
“Financial services is a key industry that is evolving as a result of new digital technologies,” said Chris Arisian, head of strategic business development at Apigee. “We are excited to partner with RS Software to help deliver comprehensive API management to payment providers.”
With the number of legacy systems in place in the payments industry, the use and management of APIs is vital to any organization trying to keep ahead of the digital transformation taking place in the market. Working with Apigee will allow RS Software to provide innovative payments providers the ability to deploy enterprise-ready environments covering all aspects of API utilization from developer portals to scalable test environments.
About RS Software (India):
RS Software India Ltd. is a vertically integrated technology solution provider to the electronic payments industry operating in four continents with its US headquarters in Silicon Valley, corporate headquarters in Kolkata, India and offices in the United Kingdom and Singapore. RS Software has been in business for more than twenty years providing solutions to leading payments brands around the world including payment networks, processors, acquirers, issuers, and ISOs. RS Software has built solutions for the introduction of new standards such as EMV and emerging payment areas like mobile and contactless payments, while enhancing the ability of its clients to manage their legacy systems. The domain focus makes RS Software a partner of choice for its customers and an employer of choice for its employees. http://uat1.rssoftware.com
Apigee® (NASDAQ: APIC) provides a leading API platform. Many of the world's largest organizations select Apigee to enable their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. For more information, go to http://apigee.com.
UPI Called The Highlight of 2016September 13, 2016
Earlier this month, a recent addition to industry research and commentary – Let’s Talk Payments – published a post entitled “The Wonderful By-Effects of Unified Payments Interface (UPI).” Our…Read More
Testing in a Dynamic, Demanding Payments EnvironmentSeptember 8, 2016
New payment instruments, increasing transaction volumes, consolidation, restructuring, mandates and system migrations are just some of the pressures facing payment operations worldwide. The globalization…Read More
Choosing the Right Tokenization Scheme - The Merchant ConundrumAugust 31, 2016
For merchants to provide consumers with the ability to pay with their phones, it means having a NFC-ready POS terminal with NFC turned on. Consistent, comparable statistics on the NFC-ready device install…Read More
Choosing the Right Tokenization Scheme: ComplexityAugust 24, 2016
As is well known and documented, a series of highly-publicized data breaches has the financial services industry betting on tokenization as a means of improving the security around payments. Though the…Read More
Transactions Per Second: We Were WrongAugust 17, 2016
I have been in the payments industry a long time, decades in fact. My first job was with a leading provider of switching software for point of sale systems. We worked with big issuers around the world…Read More