TAS Group: Leveraging Mobility to Streamline Payments

Mobility has been proven to positively impact customer experience, operational efficiency, and profitability in the banking and financial services sector. It has transformed and streamlined the banking process for customers. Mobile wallets, tokenization and branchless innovations are few major transformations welcomed by customers with open arms in the banking space. The recent advancements in FINTECH have also increased engagement opportunities between banks and two growing consumer segments, the millennials and the underbanked. There is a rising demand from millennials for a complete digital banking experience, which is augmenting the competition for traditional banks from new entrants. “This creates concerns for traditional banks, challenging their ability to quickly adapt to changes in regulatory and customer demands,” states Michael Livi, Director of Sales, TAS Group USA.

The company delivers Cashless 3.0TM— an end-to-end payment platform with a modular approach for financial institutions, eliminating the need to outsource payment programs to third party vendors. Usually, the payment solutions are implemented according to the issuing, acquiring, and transaction processing segments. Cashless 3.0, however, can be incorporated for issuer, acquirer, and switching business, while its modular approach enables customers to integrate selected modules as per their specific requirements. It covers all the payment-cycle processes in one comprehensive system and has a flexible design with faster integration capabilities. At the same time, the platform can also be packaged into three verticals: Issuance, Acquiring, and Transaction Processing. The issuance solution can design, launch, and manage payment programs of any size or type—irrespective of the Issuer’s legacy environment. With the acquiring solution, customers can accept and transact any type, shape, and form of card products and payments. The third vertical solution for transaction processing, consists of modules like switch and key management system, which facilitate front-end acceptance capabilities. “Cashless 3.0 is definitely an end-to-end card payment and universal channel management solution with an extended database for storing card holder profiles and connecting to in-house systems or external payment partners,” states Livi.