Tata Consultancy Services (TCS) has declared that TCS BaNCS for Market Infrastructure has been selected by South African Bankers Services Company Proprietary (BankservAfrica) to drive the Rapid Payments Program (RPP), a significant national initiative to introduce a next-generation, easy to use, real-time retail payments system for the growing payments ecosystem in South Africa.
RPP aims to introduce instant payments, usage of proxy resolution for easier addressability, and the ability to initiate payments using a request-to-pay. All these capabilities, along with the expansion of the payments ecosystem to banking and non-banking players, will make it easier for South Africans to make payments instantly. BankservAfrica selected the TCS BaNCS for Market Infrastructure solution to create a modern, open central payments infrastructure to realize its vision for real-time payments and unlock innovation across multiple industries in the country.
TCS is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years.
