In the ever-evolving landscape of banking and financial services, Tech Mahindra emerges as a leading provider of end-to-end solutions for cards and payments. With a rich history dating back to 1999, Tech Mahindra’s Cards Practice has evolved into a key player, generating 20% of the Banking Revenues. Let’s delve into Tech Mahindra’s comprehensive offerings and how they empower financial institutions to navigate the complexities of the digital age.
1. Platform Transformation Solutions:
Tech Mahindra offers platform transformation solutions that enable payment eco-participants to transition from legacy systems to modern platforms. By embracing digitization and leveraging forward-looking platforms, businesses can effectively manage the dynamics of the industry and gain a competitive edge.
2. Digital Payment Solutions:
With a focus on innovation, Tech Mahindra provides frictionless and innovative digital payment platforms to both customers and merchants. These solutions enhance customer experience and drive engagement in an increasingly digital world.
3. End-to-End Cards Issuing and Acquiring:
Tech Mahindra’s offerings cover the entire cards issuing and acquiring lifecycle, aiming to reduce operational inefficiencies and drive innovation. From customer onboarding to clearing and settlement, Tech Mahindra’s solutions streamline processes and optimize business operations.
4. Payments Straight Through Processing (STP):
Tech Mahindra enables businesses to achieve cost efficiencies and economies of scale through Payments STP capabilities. By automating payment processes and minimizing manual intervention, organizations can enhance operational efficiency and improve overall performance.
5. Innovation in Payments:
Tech Mahindra fosters innovation in payments through initiatives that drive customer behavior and enhance user experience. With a focus on channels like mobile and e-payments, analytics, and security, Tech Mahindra empowers businesses to deliver next-generation services.
6. Omni Channel Processing:
Tech Mahindra offers payments services across multiple channels, providing seamless experiences to end customers. Whether it’s IVR, kiosk, ATM, or mobile-based payments, Tech Mahindra’s solutions cater to diverse needs and preferences.
7. Issuing Platforms:
Tech Mahindra’s card issuing platform enables issuers to streamline their infrastructure and onboard customers with ease. With a comprehensive suite of functional modules, Tech Mahindra’s solution is adaptable to the specific needs of financial institutions.
8. Merchant Acquiring Platform:
Tech Mahindra’s merchant acquiring platform facilitates end-to-end merchant lifecycle management, from onboarding to billing and payments. With features like integrated workflow management and fraud & risk management, Tech Mahindra empowers acquirers to deliver tailored solutions to merchants.
9. Switching and Authorization:
Tech Mahindra helps customers implement robust switching solutions that manage the authorization and routing of payment transactions across all channels. With features like front-end communication, routing, and stand-in authorizations, Tech Mahindra ensures seamless transaction processing.
10. Payment Gateway Integration:
Tech Mahindra assists businesses in integrating with payment gateways and offering collection services across multiple payment instruments. With capabilities like PCI DSS compliance and reconciliation, Tech Mahindra enables quick go-live and seamless transaction processing.
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