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.
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.
RS Software Selected By Base CommerceApril 19, 2016
Multi-year contract will provide end-to-end technology services to address rapid growth.
Milpitas, California — April 19, 2016 - RS Software Ltd. and Base Commerce have signed a multi-year contract to build the next generation payment enablement platform in response to the multi-trillion dollar opportunity in the growth of digital commerce. RS Software, the leading vertically integrated technology solution provider in the global digital payments industry, is the technology partner of choice for Base Commerce, a leading provider of integrated payments solutions designed for software developers, application service providers, web based systems, and billing services.
According to Jason Kafer, Chief Technology Officer of Base Commerce, “The depth of payments knowledge at RS Software is a critical value add to my business. I can achieve better control of the total cost of ownership related to my technology investment In addition, I have access to the RS Software subject matter expertise, which allows me to further strengthen the payment solutions we offer our clients. Our success requires a continuing focus on what those clients need to succeed in the marketplace.”
“We are delighted by the establishment of this partnership with Base Commerce,” said Raj Jain, Chairman and CEO of RS Software. “Our mission, as with all our clients, is to provide Base Commerce an improved return on their technology investment with a faster time to market for their innovative solutions. Our proprietary global execution methodology, the industry’s best practices, proven tools and established frameworks will insure we deliver what Base Commerce requires to continue to be a leader in its space. It is a privilege to work with an organization of their caliber.”
The RS Software and Base Commerce teams will be leveraging cutting edge technology stacks to enhance core systems and creating new products and services around digital payments that will feature open API architectures and software development kits (SDKs). Combining an Agile development methodology with RS Software’s accelerators and frameworks designed specifically for the payments industry will provide the foundation for reinforcing Base Commerce’s competitive advantage.
About Base Commerce
Base Commerce provides a next generation API driven payments platform that enables any company to accept payments easily. The company’s technology transcends traditional payments platforms by providing businesses with features and functions that help keep fraud minimal and margins high. Base Commerce works with a variety of organizations, from start ups to large enterprises, to power payments on websites, mobile devices and in apps. For more information, please visit www.basecommerce.com.
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. For more information, please visit www.rssoftware.com.
NPCI taps RS Software to build digital payments enablement platform – The Economic TimesJuly 24, 2015
The National Payments Corporation of India has awarded a contract to RS Software to build a digital payments enablement platform, to support growth of online payment and spur financial inclusion.
NPCI to ease inter-mobile payment transactions – The Times Of IndiaJuly 24, 2015
In a move that will make mobile-to-mobile transactions practical enough for everyday use, the NPCI on Thursday launched its Unified Payment Interface (UPI) project. The corporation has signed on RS Software — a payments technology company which, among other things, is helping integrate Apple Pay with merchants.
NPCI assigns RS Software to build Digital Payments Enablement PlatformJuly 23, 2015
RS Software has been awarded a contract from the National Payments Corporation of India (NPCI) to build the Digital Payments Enablement Platform.
During a press conference organized in Mumbai on July 23, Mr. A P Hota, MD & CEO, NPCI said “We intent to utilize RS Software’s expertise for fulfilling advanced needs of the customers to perform instant payment transactions. Our strategic association with RS Software foresee a significant contribution to digital revolution we aim to achieve in payments arena.” RS Software CMD Raj Jain said “We are delighted to have been selected by NPCI for this very important national payments initiative. We believe it will be the foundation for enabling a new ecosystem that fosters innovation and will help India achieve the transition to digital payments. to the future of electronic payments in India.”
CMD Raj Jain speaks to CNBC TV 18January 19, 2015
While sharing the company’s Q3 results on CNBC TV 18 NSE Closing bell, Mr Jain said that RS is well-positioned to leverage the major developments in the payments industry. With the massive growth in ecommerce, payments companies needed to be able to connect commerce and payments together and RS is transitioning its strategy in order to expand into the digital payments opportunity.
Raj Jain featured as Entrepreneur of the MonthDecember 22, 2014
Raj Jain has been featured as Entrepreneur of the Month in the November 2014 issue of SiliconIndia magazine. The feature, entitled ‘RS Software: Revamping the Electronic Payment Landscape’ follows Mr Jain’s entrepreneurial journey from inception and outlines his zeal and the clarity of his vision in building and shaping RS into a world class organization.
CMD Raj Jain speaks to ET-NowOctober 20, 2014
Mr Jain reported a good second quarter with the highest ever profit reported in any quarter in the history of RS Software. He said that over the last 8 quarters, irrespective of the movement of the exchange rate RS has been successful in consistently improving margins through automation and is on track to reduce client concentration over the next few quarters. The company is focusing on every stage of the business to ensure the right cost structure and continues to deliver price-performance and bring value to clients by being a payments domain-focused player.
R S Software (India) consolidated quarterly net jumps 43.28% - myirisOctober 20, 2014
R S Software reported a substantial rise in consolidated net profit for the quarter ended September 2014. During the quarter, the profit of the company rose 43.28% to Rs 166.20 million from Rs 116.00 million in the same quarter previous year.
R S Software India Q2 PAT jumps to Rs. 16.62 crores - equitybullsOctober 20, 2014
The company has posted net profit of Rs.16.62 crores for the period ended September 30, 2014 as against Rs.11.60 crores for the period ended September 30, 2013.
Board declares Interim Dividend - Business StandardOctober 20, 2014
R.S. Software (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 17, 2014, inter alia, has approved the payment of another Interim Dividend for the Financial Year 2014-15 @ 15% i.e. Rs. 1.50 per share to the Equity Shareholders.