Digital Payments

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Overview

Payment systems and infrastructure are practically the backbone for both transaction banking and relationship-oriented banking. Hexaware have a track record of servicing the largest banks in the industry, who have themselves been pioneering new payment technologies and innovative integrated payment solutions that also accord due importance to privacy and data security requirements. We have handled some of the most complex payment landscapes (between the spectrum of standalone card systems and those moving across a multitude of systems across entities and borders) and have conducted complex development, mission critical migration and testing programs. With extensive domain-centric experience and our resolute theme of automation, we have capabilities to increase STP, bring down operational costs rapidly and keep them predictable over the longer term.

Key Features

We offer solutions across the value chain for domestic and cross-border payments covering different types of payment methods. Origination though various channels (mobile, web, contact center), processing engines (TSYS TS2 platform, TSYS TS1 platform, FDR, Fiserv, Temenos, NCR: Alaric’s Authentic, CyberSource, WorldPay and country specific payment gateways for Colombia and Paraguay), message formats (ISO8583, AS2805, IFX, OFS, OFSML, SWIFT), payment operations (investigations & reconciliation), integration with the country level payment infrastructures & payment networks (VISA & MasterCard), PCI DSS, anti-money laundering, fraud management, clearing and settlement, 3rd party data aggregators (Experian Probe SM, Bureau data – Experian; Equifax, FICO Triad, Acxiom, Moody's, Cardworks). We are focusing on capabilities in the below areas to address challenges and opportunities in the digital payments area.

Customer Experience

  • Virtual Cards
  • Mobile Wallets
  • Digital PoS
  • Mobile RDC

Payment Engines

  • Issuing
  • Processing
  • Payments Hub

Legacy Transformation

  • ISO 20022
  • P27
  • Open Payments (API)

Digital ID Verification & eKYC

Fraud Management & AML

Digital Collections

Digital Collections Analytics

Payment Investigation

Payments Reconciliation

Cyber Security & Threat Hunting

Key Benefits

Hexaware was able to pass on various kinds of benefits to our clients. Some of the examples are,

Digital Engagement and Mobile Payments Platform for a customer which can process over 1 million transactions per month with 80% decrease in failed transactions.

Digital Payment Account Verification Services for a client which prevented 50% of all incorrect payments and 70% decrease in cost of fraud.

Corporate Payments and Business Cards Platform for a customer which brought down the time of new product launch by 70% and cost reduction of 500K USD per annum with the automation of permits data capture processes.

Cross-Border Payment Investigation Operations which gave 35% reduction in manual effort spent in the investigations process with 44% savings in the total cost of ownership delivered over the engagement tenure for a US based bank.

Product/Service details