Technology outsourcing company Tata Consultancy Services (TCS) has launched Merchant Pay, a transaction solution for retail organizations.
TCS said retail organizations can utilize Merchant Pay to integrate payments across payment channels such as Aadhar, Credit or Debit card or even phone-based payments through a single interface.
Consumer can make digital payments at a Merchant Pay-enabled store by using their fingerprint to confirm their identity.
TCS said the Merchant Pay digital payment platform will 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 report based on transaction pattern analysis.
Merchant Pay will have empanelled and controlled devices security features. Merchants will be uniquely tagged on their smart phone or last mile devices with device policies being embedded in the application.
The Merchant Pay Services Platform offered by TCS will help in addressing critical business needs of merchants. These include services for acquiring, onboarding and training merchants, cloud hosting services, 24×7 network support as well as multi-lingual help desk support.
“TCS worked with the Government to pioneer a simple payment acceptance using Aadhar. 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,” said Ravi Viswanathan, president – Growth Markets, TCS.
