All road lead back to India. As much FUD as there is, India will use RippleNet and Digitial Assets. We know that Ripple is heavily involved in India. We actually covered an article back in April on TATA and how they were working with RippleNet. Today we get the news that Tata Consultancy Services has announced the launch of its Real-time Payments solution in multiple markets, as part of TCS BaNCS for Payments, to help customers in their digital transformation journey.

A little history on who TATA is: Tata Consultancy Services Limited is an Indian multinational information technology service and consulting company headquartered in Mumbai, Maharashtra, India. It is a subsidiary of Tata Group and operates in 149 locations across 46 countries. TCS is the largest Indian company by market capitalization.

The solution TATA has implemented is an API that is enabled for the open banking environment. We already know that TATA is a member of RippleNet so what does this sound like? This sounds like they have attached there back end vai API which will connect them to RippleNet.

The TCS BaNCS Real-time Payments solution has already been adopted by leading financial institutions across the world and is helping them launch new offerings that enhance the end-user experience, deepen existing customer relationships, tap into new segments, and build competitive differentiation.

TCS is based on ISO20022 standards which everyone is connecting up to. TCS will enable domestic and cross-border real-time payments in the UK, Europe (SEPA Insta), Sweden (Swish), India (IMPS & UPI) and Malaysia (RPP). It will soon be available in Canada, the US, and the Middle East and Africa in alignment with the roadmap for real-time payments in each region.

SO HERE COME THE BIG QUESTION – DOES THIS NEW SERVICE FOR REAL-TIME PAYMENTS USE RIPPLNET? 100% YES IT DOES AND HERE IS HOW!

-TATA connects to RippleNet via Quartz

-Quartz gateway connects the TCS BaNCS payment systems

-Real-time Payments solution is part of the TCS BaNCS

This solution is API enabled for the open banking environment and its modern technology stack can integrate payments from several platforms, increasing efficiency and eliminating friction in the process. The TCS BaNCS Real-time Payments solution has already been adopted by leading financial institutions across the world, and is helping them launch new offerings that enhance end-user experience, deepen existing customer relationships, tap into new segments, and build competitive differentiation. Once again TCS will enable domestic and cross-border real-time payments in the UK, Europe (SEPA Insta), Sweden (Swish), India (IMPS & UPI) and Malaysia (RPP). It will soon be available in Canada, the US, and the Middle East and Africa in alignment with the roadmap for real-time payments in each region.

You can find our article from April Below