Virtusa / Banking & Financial Services / Cards and Payments
Stay Ahead of the Disrupted Payments Landscape

Over the last three years, over $2 billion has been invested in expanding the payments industry due to the technological disruption that is taking place. The pace of investment is accelerating with the confluence of changes on account of innovation (APIs, open banking, P2P), standards (SWIFT GPII, NPP) and regulatory (PSD2) commitments. Payments around the world are undergoing radical transformation across the entire value chain starting from the way we initiate payments to the clearing and settlement mechanisms. Banks need to adopt these disruptive payment strategies in order to maintain a competitive advantage and avoid falling behind. With over 25 years of experience in the payments industry, Virtusa has built technology solutions and implemented transformational programs for clients in just about every facet of the payment spectrum.

Key Solutions

Digital Payments

Improve customer satisfaction through digital payments.

Digital Payments

With rising cost pressures and ever-increasing customer expectations, banks are working toward driving efficiency while at the same time delivering instant customer gratification. Payments around the world are undergoing radical transformation across the entire value chain. Virtusa’s digital payments solutions help clients with the strategies they need to transform their digital-out (UX) and digital-in (platform) areas. Our solutions range from mobile payments, electronic billing, third-party wallets, cross-border payments, and payments through IoT devices and wearables.

Virtusa is helping a leading bank in Australia become NPP compliant.

Mobile Payments

Enhance customer gratification through mobile payments.

Mobile Payments

With an increasingly transient customer base, banks are working towards creating stickiness through a variety of applications and platforms. Payments around the world are undergoing radical transformation across the entire value chain, and one key area of focus is mobile payments. Virtusa’s framework helps banks deliver their own brand of mobile payment solutions and integrate them into existing banking applications. This reaffirms trusted relationships between financial institutions and their customers. With accelerators for tokenization, mobile wallets, and mPOS, we enable a swift time-to-market delivery.

What you’ll get:

  1. Technology architecture that is agnostic to different types of token requestors, issuers, and payment networks
  2. Out-of-box solution integration with Visa, MasterCard, Amex, JCB, Diners Club, China Union Pay, Apple Pay, Google Pay, Samsung Pay, and PayPal.
  3. Trusted partnerships with different mobile software vendors including mZeal, DMI, and BlueBox.

Smart ATMs

Deliver customer delight through intelligent interfaces.

Smart ATMs

Banks are under significant cost pressure and are turning their attention toward self-service solutions that can help reduce costs and enhance customer engagement. ATMs are emerging as a key area of innovation for banks because they deliver services traditionally offered by the branch. Virtusa’s NextGen ATM is a lightweight solution developed to be compatible across devices and browsers, which allows banks to integrate new technologies that offer a rich customer experience. This solution enables banks to free up staff so that they can engage in higher-value activities, such as advisory and sales conversations.

What you’ll get:

  1. A powerful inbuilt security framework designed with a scalable and flexible architecture that has a clear separation of application layers.
  2. A platform independent solution supported on Linux, Windows, and MacOS.
  3. Hardware upgrades and replacements that don’t affect the application layer, enabling ATM vendor independence.

Watch our Smart ATM Solution video here.

Real-Time Payments (RTP)

Improve regulatory compliance and enhance customer transparency.

Real-Time Payments (RTP)

With rising cost pressures and ever-increasing customer expectations, financial institutions are working toward driving efficiency, improving customer transparency, and regulatory compliance. Virtusa’s real-time payments (RTP) solution helps you track payments on the fly regardless of the payment type (P2P/B2B) or device used. Our RTP accelerators and highly-experienced RTP team work with you to implement a superior payments system that provides the efficiency and assurance you need to run operations while providing an unrivaled customer experience.

Virtusa is helping a leading bank in Australia become NPP compliant.

PSD2 and Payment Microservices

Launch differentiated offerings that improve customer retention faster.

PSD2 and Payment Microservices

Banks in the EU have to be compliant with Payment Service Directive 2 (PSD2), a regulation requiring banks to open up access to accounts and give customers the ability to initiate payments via third-party providers (TPP). While this may seem like a small regulation, it points banks in the direction where they have to proactively think about how the pace of innovation is creating an overarching need to move toward open API banking and microservices. Virtusa, with its OpenBank API accelerators, has a breadth of capabilities to help your organization become not only PSD2 compliant but also at the forefront of the open API banking revolution.

What you’ll get:

  1. A curated list of APIs from over 50 innovative FinTech companies.
  2. Credibility vetted by the Banking Industry Architecture Network (BIAN) as an industry consultant for BIAN compliant APIs.
  3. Strategic partnerships with firms such as Akana, Apigee, CA Technologies, IBM API Connect, MuleSoft, and Open Bank Project.

Virtusa is building a payments services platform to help a large Nordic bank retain client relationships in the post PSD2 world.

Payment Hubs

Reduce platform costs and improve payments visibility across the enterprise

Payment Hubs

With rising cost pressures and ever-increasing customer expectations, financial institutions are working toward driving efficiency, improving customer transparency, and regulatory compliance. Virtusa’s Payment Hub provides banks with the ability to consolidate their payments strategy across multiple product lines using a shared infrastructure. This enables banks to get an enterprise-wide view of customer relationships from a single source of truth around payment and transaction details. Using a unique combination of technologies such as workflow automation, digitization, and mobile and online channels, we help build payment hubs that manage different transaction lifecycles on a global basis.

Our value proposition is our proprietary consulting and implementation framework that maps functional architecture across all product lines, isolating specific functionalities, and re-engineering processes to maximize throughput.

Virtusa is helping a leading bank in Australia become NPP compliant.

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Virtusa Corporation
132 Turnpike Road
Suite 300,
Southborough, MA 01772