NOVEMBER 11, 2023
Anti-fraud solutions to secure global digital payments
investments to bolster cashless payment modes in line with global trends. Approximately 46% of the global real-time payments in 2022 were processed on platforms built by the city-based company. RS Software is now focusing on anti-money laundering solutions as the country is witnessing a rise in fraud cases on digital payment platforms.
Aligning with global emerging trends, the RS Payments Innovation Lab is focusing on secure real-time payments that necessitate faster money laundering detection. The Enterprise Fraud and Risk platform, developed by the company, safeguards 95% of digital payments in India, processing 11 billion transactions monthly.
The company played a crucial role in developing the software for the Unified Payments Interface (UPI) platform, meeting bespoke requirements from the National Payments Corporation of India (NPCI). UPI payments have surged from 11 million to 11 billion in seven years.
Raj Jain, chairman and managing director of the company, stated, “Payment modernisation is underway globally in countries of all sizes, and India has showcased tremendous success with its digital payments infrastructure, constructed by RS Software. Recognizing this opportunity six years ago, we invested over a billion rupees to build our product suite. As we gain more traction in global markets for our products, we will make incremental investments to continually enhance our products in response to emerging trends.”
Out of the 1.4 billion citizens in the country, 508 million opt for digital payments, with 10% of them hailing from West Bengal.
NOVEMBER 09, 2023
Nasscom felicitates RS Software for its contribution during the last 3 decades to the foundation of the Indian IT industry
We are honored to have been felicitated by Nasscom, the apex body for the technology industry in India, for our contribution during the last three decades to the foundation of the Indian IT industry.
The event which took place on November 9, 2023 at the ITC Sonar, was attended by the company Chairman and Managing Director, Mr. Raj Jain, and Richard Launder and C S Mohan, both Members of the Board. We also had a guest of honor – Mr. Jawhar Sircar, Member of the Upper House (Rajya Sabha) of the Indian Parliament. Media from leading dailies in the eastern region also attended to witness the historic event.
Nirupam Chaudhuri, Eastern Regional Head, Nasscom enlightened the audience of RS Software’s contribution of over more than thirty years and requested Mr. Sircar to hand over a memento to Raj Jain.
The audience was appraised of how India remains the undisputed leader in digital payments and how about 46% of the global real-time payments in 2022 were processed on platforms built by RS Software. It was a proud moment to internalize that RS Software from Kolkata, built India’s digital payment stack – the three major platforms that together constitute a significant part of India’s digital payment infrastructure. West Bengal which is an icon of intellectual contribution to the progress of India, delivering the transformative foundation which is helping India to become the 3rd largest global economy by the turn of this decade.