Customers of BankservAfrica to benefit from TCS BaNCS RPP

Tata Consultancy Services (TCS), a leading global IT services, consulting & business solutions organisation announced on Tuesday that TCS BaNCS has been selected to drive the Rapid Payments Program by South African Bankers Services Company Proprietary Limited (BankservAfrica). 

Rapid Payments Program (RPP) is 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. It aims to introduce instant payments, usage of proxy resolution for easier addressability, and the ability to initiate payments using a request-to-pay. 

With all these capabilities and coupled with the expansion of the payment's ecosystem to banking & non-banking players, it will be easier for South Africans to make payments instantly. 

BankservAfrica’s customers will benefit from a secure, real-time and scalable solution for account information by leveraging TCS’ innovative Quartz Smart Ledgers for proxy resolution, built on a decentralised/distributed architecture. 

TCS offers a consulting-led, cognitive-powered, integrated portfolio of business, technology, and engineering services & solutions. 

The company’s stock ended down by 0.98 per cent at Rs 3,109.30 on Tuesday. It registered an intraday high and an intraday low of Rs 3,166.25 and Rs 3,100.25 on BSE.