TCS Teams up with Payments Canada to Implement RTR

Canada-based Tata Consultancy Services (TCS) has created a strategic partnership with Payments Canada to implement its new Real Time Rail (RTR) payment system for instant payments.

The RTR is the newest payment system deployed in the country that allows Canadians to initiate payments and receive funds in real-time, in a matter of seconds. TSC will leverage its solutions in quality engineering to create a comprehensive end-to-end industry assurance programme to validate solutions for RTR. Additionally, it will design and implement a country-wide integration map of the RTR to allow customers in remote areas to access instant payments. 

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TSC has provided similar market infrastructure solutions in 25 countries to boost the payments industry and accelerate fund remissions. It has partnered with central banks and industry leaders in payment innovations to deploy solutions that enable domestic and cross-border money transfer in real time. 

TSC's strategic partnership with Payments Canada aims to offer a seamless, secure, fast, and cost-effective alternative solution for domestic clients and businesses to conduct payments.

(Source: The Paypers)