Cards & Payments


Industry Trends & Challenges

Cards are playing an increasingly important role in the ever-growing banking space. High competition and ever changing environments are necessitating continuous innovation in the products & services provided.The cards industry worldwide is going through transformation with a shift in focus towards customer protection, fraud control, features and risk management etc.

Online (Internet) payments currently dominate the payments market. This trend is expected to continue but contactless card and mobile payments will become significant by 2016. Some of the key observations in cards industry :

  • Increasing regulatory and security pressures
  • Increasing fraud operations
  • Reduced cost of operations and defaulters base
  • Meeting ever increasing demands from customers, merchants and other stake holders
  • Remaining competitive in ever changing global market by strategizing, developing and implementing new initiatives
  • Design and introduce innovative products to attract the new customers
  • Clear shift in balance of power from issuers to acquirers
  • Fraud prevention activities like introduction of smart cards (Chip cards) in place of magnetic stripe cards in Asia and Europe regions
  • Credit Card Technologies Advance with Better Security and Contactless Payment
  • Mobile Banking, Remittances and Wireless Payments Grow as the Global Cell Phone Subscriber Base Hits 4 Billion

Based on these industry trends and also leveraging on past experiences of the senior SMEs in providing end to end card solutions, Tecfinics has designed its service offerings in the cards domain.

What TecFinics Offers ?

Tecfinics has in-depth functional expertise and experience in cards domain functionalities like Application processing, Transaction Authorization systems, Account receivables, Collections, Customer service, Merchant banking, Interchange, Letter Processing and Transaction Management.

Tecfinics is proficient in a variety of products such as Bank card, PLCC card, Dual card and Smart card, to list a few. TecFinics has extensive experience on VisionPlus product which supports end to end functionalities of cards domain.

Tecfinics' Service Offerings include:

Technical Offerings Domain Offerings Niche Offerings
  • Product implementation (VisionPlus)
  • Application development and maintenance
  • 24x7 Product support
  • Half yearly compliance implementation
  • Product Testing
  • Training
  • Fraud Control
  • Risk Management
  • Performance Tuning
  • Switch support like base-24
  • Customer Portal
  • Test Automation
  • Data Analytics
  • Setting up client specific COE

TecFinics is also establishing partnerships to address industry pain areas like frauds, risk management and analytics.

TecFinics Advantage

  • Domain Expertise: Lead by veterans in IT services industry with core expertise in cards & payments domain and Technology.
  • Knowledge Management: TecFinics has an in house custom built Knowledge Management solution to identify, record, and disseminate best internal practices.
  • Matured Delivery: TecFinics has vast experience in Program Governance. It has rich expertise and process knowledge. Optimized through Advanced Tools, Techniques and Re-usable Assets.
  • Reduced Go to Market timeframes: Reduction in delivery cycles through proven processes / methodologies thus enabling clients to reduce time-to-market.
  • Quality resource deployment: Deployment of quality resources through internal competence development and certifications.
  • Flexible Staffing Solutions: Capability to provide and manage dedicated teams. Capability to ramp up and ramp down skilled resource pool on demand. TecFinics with its strategic affiliations with the industry and the premiere educational institutions is aptly positioned as an extended sourcing solutions partner for its customer organizations.