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Payments and cards

Is there a mobile-centric strategy to transform customer servicing, marketing and operational processes in the payments functions?

Is social commerce and managing online consumer engagement important? If so, what is the quickest way to bridge the gap?

How do you overcome challenges and tap opportunities presented by the fast-evolving regulatory obligations across the globe?

How do you optimize expanding payment infrastructure and remove redundancy at minimum cost?

How can you leverage prepaid / stored value instruments to tap the unbanked / underbanked? And how do you bring card products to market faster?

The 4,000+ professionals at the dedicated Payments and Cards Practice at Infosys can help you answer these questions, and more. Our deep domain expertise results from our experience across the value chain – issuers, acquirers, networks and processors; and from our strengths across multiple domains – merchant services, loyalty, compliance, fraud management, alternate payments, and micro payments.

With changes in compliance, competition and consumer needs, the business landscape is more complex than ever. This new world of remote transactions and interactions calls for new strategies and new technologies to maximize growth and improve profitability.

Challenges and opportunities

Emerging technologies driving business direction: Disruption is in the air – from the young Wall Street banker who prefers mobile transactions to the college student who enjoys the convenience of alternative online payments. Technology solutions present enterprises with many ways to acquire new business from Gen Y and tech-savvy consumers – social media platforms, real-time data mining and personalized card design, to name a few. However, it is critical to understand how to integrate these new platforms with existing systems, while ensuring that the payment ecosystem remains highly secure.

Increasing regulations and compliance requirements: Initiatives like the CARD Act, Durbin Amendment, Regulation Z, PCI DSS, PSD, and Basel are tightening supervision and impacting profitability for cards and payments entities. Technology innovations in investigation and rules-based compliance reporting can accelerate time to market of compliance initiatives and keep adherence fail-safe.

Disintermediation by non-traditional players: Non-traditional players (such as ISIS, Boku, and Zong) are disrupting the existing payments value chain and pose a significant challenge to the established players (issuers, networks, acquirers). At the same time, disintermediation is expanding the overall market – resulting, for instance, in financial inclusion of the underbanked / unbanked population.

Expansion to new markets: Prevalent cultural norms around payments (cash vs. check vs. mobile), in addition to initiatives like the European SEPA and Reserve Bank of India's PSS present opportunities that are unique to each region / country and to the nature of the transaction. Banks and processors will now need to build socially aware strategies to tap into international markets. Can your current technology platform adapt to the local regulations, enable context-aware marketing, reduce cost per transaction, and reconfigure supply chains to speed up the time to market?

How Infosys delivers business value

Our diverse strengths in consulting, technology and sourcing give us the ability to develop, own and manage your most complex processes and systems. We address your payment business needs by

  • Leveraging our alliances with leading industry players like SunTec and FICO to build cost-effective solutions
  • Creating offerings by leveraging the strengths of our multiple Centers of Excellence like alternate payments, mobility and customer servicing
  • Utilizing our proprietary frameworks for deploying solutions and measuring business impact

You can engage us to address needs in three areas:

Business Transformation: Leading the way with consulting services, we enable strategic forward leaps in areas like mobile payments, loyalty assessment, prepaid instruments and mobile security. Business process re-engineering with technology is one of our key strengths – we’ve worked with clients to transform their cards authorization platform, compliance, risk and fraud systems; launch new prepaid products in multiple geographies, architect customer acquisition and loyalty platforms; and issue chip and PIN cards.

Accelerating Innovation: You can leverage the strengths of Infosys Mobility Innovation Center to create mobile wallets or location-based service utilities. For social collaboration initiatives, Infosys SocialEdge Platform can be quickly customized to suit engagement and commerce needs. We also design multi-channel strategies to drive seamless purchase, and create integrated cloud ecosystems to give you the power of pervasive computing.

Efficient Operations: Our vast repository of payments-specific reusable components and well-acknowledged payments validation services can be harnessed to boost productivity and quality in application development and maintenance engagements. In addition to services for end-to-end platform management, process optimization, and information management, we also provide a wide range of BPO services for collections, customer on-boarding, and fraud monitoring.

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