NPCI Selects Thinksoft To Validate Its Payments Systems

Thinksoft Global Services Limited (Thinksoft), the Financial Software Testing Company, has announced that the National Payments Corporation of India (NPCI) has signed up to utilise and leverage Thinksoft’s expertise and support services to enhance the quality of NPCI’s compliance and certification programmes related to its products and services.

Thinksoft will design and develop the compliance program set-up, study the certification program practices, review and suggest improvements in the process, define the certification program and the certification authority. The project duration is for 3 years.

NPCI, on behalf of banks in India, is setting up RuPay, the Indian domestic card payment network, which has the approval of the Reserve Bank of India. RuPay intends to bring down the overall transaction cost for the banks in India, provide card payment options to banks, develop products for financial inclusion of the common man and thereby build an environment to shift cash payments to electronic payments.

A P Hota, MD and CEO, NPCI said, “It was through a tender process where two service providers were selected, one of which is Thinksoft, to develop and implement Compliance Programme and support NPCI in certifying member banks and institutions of their compliance to NPCI’s standards in respect of its various business products and services. NPCI proposes to leverage Thinksoft’s expertise to effectively undertake the project.”

Asvini Kumar, Managing Director, Thinksoft said, “The NPCI project is very close to Thinksoft’s mission of leveraging our expertise to support organisations enhance their customer experience by optimising their systems, offerings and products. It is an acknowledgement of Thinksoft’s core expertise in focused testing methodology, testing process, and the years of sustained and exemplary performance in the BFSI, that NPCI has decided to entrust Thinksoft with the critical assignment.”

Thinksoft will be setting up an exclusive test bench, and will have experienced project managers working on defining the compliance program, test requirements definition and certification program execution.