Global IT services supplier Tata Consultancy Services (TCS) has launched Merchant Pay, a unified payment platform that will enable retail organisations to integrate transactions across multiple modes through a single interface.
This new platform will allow customers to make Merchant Pay-enabled payments by using their fingerprint to confirm their identity, according to TCS.
TCS growth markets president Ravi Viswanathan said: "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.”
Designed to effectively integrate with different kinds of banks, the Merchant Pay platform provides multiple-mode payment options according to the banks’ individual business model and an unified view of all payments.
The solution can additionally operate as a business analytics platform for strategic business decision-making to reduce the cost of payment.
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The cloud-hosting solution will also be able to generate analytical reports based on the analysis of the trends, and patterns of transactions carried out by the consumers.
On the security front, the platform is equipped with empanelled and controlled devices security features.
TCS also offers the Merchant Pay Services Platform, which serves as an extension of Merchant Pay will help address services such as acquiring, onboarding and training merchants, cloud hosting services, 24×7 network support, and multilingual help desk support.
TCS will also conduct special onboarding and training sessions to train merchants to ensure seamless adaption of the technology, as well as round-the-clock support setup for merchants.