TCS Launches 'Merchant Pay', a Unique Digital Payments Integration Platform Using Aadhaar

MUMBAI, April 25, 2017 /PRNewswire/ --

To help retail organizations integrate payments across multiple payment channels in line with the vision of Digital India

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization today announced the launch of 'Merchant Pay', a unified transaction solution that will help retail organizations seamlessly integrate payments across multiple payment channels such as Aadhaar, Credit or Debit card or even phone-based payments through a single interface. For the consumer, 'Merchant Pay' will be a seamless experience enabled by TCS as they will be able to transact at a Merchant Pay-enabled store merely by using their fingerprint to confirm their identity.

The 'Merchant Pay' platform will effectively integrate with various banks to provide multiple-mode payment options to suit one's own business model and provide a unified view of all payments. Additionally, it will also serve as a business analytics platform for strategic business decision-making to reduce cost of payment. It will facilitate advanced analytical data by offering analytical reports based on transaction pattern analysis.

Security being a key aspect of any payment gateway, 'Merchant Pay' will have empanelled and controlled devices security features. Merchants will be uniquely tagged on their smartphone or last-mile devices with device policies being embedded in the application.

The 'Merchant Pay' Services Platform offered by TCS as an extension of 'Merchant Pay' will help in addressing critical business needs of merchants. These include services for acquiring, on-boarding and training merchants, cloud hosting services, 24x7 network support as well as multi-lingual help desk support. The Services Platform will also ensure compliance to existing risk management frameworks and help merchants meet regulatory and statutory needs.

Commenting on the launch, Mr. Ravi Viswanathan, President Growth Markets, TCS said, "We are proud to innovate for India's digital transformation. TCS worked with the Government to pioneer a simple payment acceptance using Aadhaar. With numerous digital payment methods like UPI, eWallets, Aadhaar Pay, Debit and Credit cards available, there was a need for a unified platform that integrates all digital payment methods offering convenience to customers and also allowing merchants to accept any form of digital payment."

To ensure seamless adaption of this cloud hosting solution, TCS will conduct special drives to on-board and train merchants and have a 24x7 professional support setup for merchants.

About Tata Consultancy Services Ltd. (TCS) 

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 387,000 of the world's best-trained consultants in 45 countries. The company generated consolidated revenues of US $17.6 billion for year ended March 31, 2016 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. For more information, visit us at http://www.tcs.com.

Media Contacts:
Harsha Ramachandra
[email protected]
+91-22-67789078

Shamala P
+91-22-6778-9081
[email protected]  

Arushie Sinha
+91-9960454744
[email protected]